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Oil and Gas Company Profile

The document provides information about Hindustan Oil Exploration Company Ltd (HOEC), an Indian oil and gas exploration company. It details HOEC's operations, assets, current priorities such as developing the B-80 offshore field by 2020, and performance compared to other Indian energy companies. The company's challenges include delivering development projects like B-80, exploiting additional potential in fields like Dirok, exploring for new resources, and ensuring portfolio growth through acquisitions and bid rounds.

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Apeksha Hegde
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3K views4 pages

Oil and Gas Company Profile

The document provides information about Hindustan Oil Exploration Company Ltd (HOEC), an Indian oil and gas exploration company. It details HOEC's operations, assets, current priorities such as developing the B-80 offshore field by 2020, and performance compared to other Indian energy companies. The company's challenges include delivering development projects like B-80, exploiting additional potential in fields like Dirok, exploring for new resources, and ensuring portfolio growth through acquisitions and bid rounds.

Uploaded by

Apeksha Hegde
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PEER-GRADED ASSIGNMENT:

OIL AND GAS COMPANY PROFILE,


DUKE UNIVERSITY (COURSERA)

COMPANY:
HINDUSTAN OIL EXPLORATION COMPANY LTD. (HOEC),
INDIA
I. COMPANY PROFILE:
Hindustan Oil Exploration Company Ltd (HOEC) is engaged in Exploration and
Production (E&P) activities & was the first private company in India to enter into the
field of oil and gas exploration. It was incorporated in India in 1983 having its registered
office at Vadodra, Gujarat and operating office in Chennai, India. HOEC is an Indian,
private company as stated in its annual report, and is listed in Bombay stock exchange
(BSE India) and National Stock Exchange (NSE India). (Source: Company Website,
BSE and NSE Annual Report)

Major Business and Area of operation:

The Company's activities relate to exploration and production of hydrocarbons in India


only. Its segments include Hydro carbon and Oil additives. Its products include onshore
and offshore crude oil and natural gas. Its oil and gas assets consist of operated and non-
operated acreages in Assam-Arakan, Cauvery, Cambay basins, Rajasthan and Pranhita-
Godavari basins in India. It has AAPON-94/1, which is a pre-new exploration licensing
policy (NELP) block located in Assam Arakan Basin. Its Cauvery project has over four
development wells, and an offshore platform and pipeline. Cauvery project has a
processing plant on over 210 acres of land. The Cambay project's North Balol block
includes approximately 10 wells. The Asjol block has over 10 wells. The CB-ON-7 block
has approximately 10 wells. The CB-OS/1 block is located in inter tidal transition zone.
(Source: https://www.reuters.com/companies/HOEX.BO )

Current Top Priority:


B-80 is a discovered small field in the western offshore of India. The field was awarded
in the DSF Round – I to the Joint Venture between HOEC and Adhboot Estates Private
Limited, with HOEC as the operator. This field would be HOEC’s first foray into the
prestigious Mumbai offshore basin. The project involves drilling two new wells,
processing the oil/gas through a Mobile Offshore Processing Unit (MOPU), and
transporting the processed oil/gas through subsea pipelines to the landfall point. Sub-sea
lines laid from the MOPU will be connected to existing ONGC pipelines. The oil so
produced is proposed to be taken to the Uran Plant, and the natural gas produced is
proposed to be taken to the Hazira Plant.
Currently, HOEC is identifying and securing tangibles for drilling of the two well
program, and identifying suitable partners to execute the drilling campaign. A jack-up rig
has been identified and acquired, and will be converted into a MOPU. Contracts for
conversion of top-sides, geo-tech and pipeline route surveys are in advanced stages of
close-out. The project is on track for delivery of “First Oil” by June 2020. (Source:
Company Website)

II. COMPANY PERFORMANCE:


Comparison with Other Indian companies:
(Source: Moneycontrol.com)

COMPANY NAME NET SALES (in ₹ Cr) NET PROFIT (in ₹ Cr)
Reliance 245,667.00 31,944.00
ONGC 68,087.18 11,246.44
Petronet LNG 26,022.90 2,949.37
Oil India 8,618.38 1,741.59
HOEC 99.44 65.06
Deep Ind 0.78 63.16
Asian Energy 140.75 21.64
Jindal Drilling 397.86 9.18
Selan Explore 48.82 6.24
Continent petro 95.42 2.23
Deep Energy Res 0.78 0.04

From the above parameters, it can be noted that company is fairly performing when
compared with other Indian major companies and also below table represents company’s
revenue in the last 5 years.

COMPANY PERFORMANCE HIGHLIGHTS – Q4 (FY 2020 – FY 2021)


(SOURCE: Company website Investor presentation)
 Dirok
• Dirok is consistently producing at full capacity through Q4 FY21. Average Gas
Production – 34.75 mmscfd (in Q4FY21)
• Public hearing conducted successfully for phase-II execution. Environmental clearance
obtained
• Forest clearance applied for pipeline section
• Pipes have been ordered. First lot received
 B-80
• Flexible pipelines & Umblicalsinstalled & connected to KGB- OI
• Successfully performed the hot tap on the ONGC 14” WO 16 – BPB line for gas
evacuation
• Gas export line hooked up to the lateral spool and tested
• KGB Offshore Installation ready for Hook-up with FSO
• Calm buoy Safely docked at Das Offshore, Rohini Yard for the Monsoon Season
 PY-1 & Cambay
• EC clearance process initiated & in-progress for future drilling campaigns in PY-1 &
Cambay Assets

 Other Blocks
• Umatara FDP is approved and planning in progress
• Kherem Forest Clearance in final stages and PML in process

III. COMPANY MAJOR CHALLENGES AND WAY FORWARD:


(Source: Company website Investor presentation)

Company highlighted its major focus areas

 Deliver Development Projects


 B-80 Development – Endeavor to deliver ‘First Oil’ by June 2020 subject to weather
window ; ‘First Gas Sales” by Dec 2020
 Phase - II development of Dirok to increase production by Q1 FY 21-22
 Exploit Additional Potential
 Appraise North Dirok Potential within Dirok Development Area (Assam)
 Appraise potential in deeper prospects within Kharsang
 Development Area (Arunachal Pradesh)
 Appraisal & Development of upside potential in PY-1 (Cauvery Offshore)
 Explore to Discover New Resources
 Explore in Greater Dirok block adjacent to Dirok
 Explore R-2 area of CB-ON-7 on execution of PSC
 Ensure Portfolio Growth
 Participate in OALP & DSF bid rounds
 Evaluate inorganic opportunities
 Seek to increase participating interest in operated blocks
 Strengthen Subsidiary Companies to leverage opportunities in Oil Field Services sector.

Bibiliography:
1. https://www.moneycontrol.com/stocks/marketinfo/netsales/bse/oil-exploration-and-
production.html
2. https://www.moneycontrol.com/financials/hindustanoilexplorationcompany/profit-
lossVI/HOE01
3. https://simplywall.st/stocks/in/energy/bse-500186/hindustan-oil-exploration-shares#past
4. https://www.hoec.com/wp-content/uploads/2021/06/investor-presentation-q4-fy21-final-
version.pdf

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