Production Resumes at Offshore PY-3 Field in Cauvery Basin by ONGC-led JV

A Joint Venture (JV) of Oil and Natural Gas Corporation Limited (ONGC), Hardy Exploration & Production (India) Inc., and Invenire Petrodyne Limited has successfully commenced production from the PY-3 Field, located offshore in the Cauvery Basin. The field, which was originally brought onstream in 1997, had been shut since July 2011. The JV has implemented a multi-phase revised Field Development Plan (FDP) to revive production, with Phase I now completed. This included integrity assessment, conditioning, and activation of the subsea well PD3SA; installation of subsea infrastructure; and hook-up to the Floating Production, Storage, and Offloading (FPSO) vessel Svetah Venetia. Phase II of the FDP will involve the drilling of additional wells and the application of enhanced oil recovery (EOR) techniques to boost output. Hardy Exploration & Production (India) Inc. is the operator of the block with an effective 22.79% participating interest. ONGC holds a 50.63% effective participating interest, and Invenire Petrodyne Ltd. holds the remaining 26.58%.