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Hindustan Oil commences production from PY-1 Field

anilmehta's picture
Submitted by anilmehta on October 16, 2009 - 23:56

HOEC today announced that it has commenced the production of natural gas from PY-1 Field.
As
notified earlier, the natural gas from this Field shall be supplied to
GAIL (India) Pursuant to the production sharing contract for PY-1
Field, Chennai Petroleum Corporation (CPCL), is designated as the
government nominee for purchasing the condensate.
The company has 100% operated participating interest in the said field.
Shares
of the company gained Rs 5.15, or 1.48%, to trade at Rs 352.55. The
total volume of shares traded was 319,453 at the BSE (3.44 p.m.,
Friday).


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Anil Mehta is a seasoned investor with expertise in Indian Equity markets.Anil published many white papers and columns on various magzines and newspapers.

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