Hindustan Oil Exploration Company Ltd (HOEC) has announced the successful acquisition of contract area MB/OSDSF/B15/2024 under the Special Discovered Small Fields (DSF) Bid Round 2024, officially granted on April 15, 2025. The strategic win strengthens HOEC’s growing portfolio in offshore oil and gas assets.
High-Potential Block with Proven Discoveries
Located in the Mumbai Offshore region, the newly awarded block covers 332.4 square kilometers in shallow waters at a depth of approximately 40 meters. The contract area includes two key discoveries—B-15A-1 and B-15-2—which have already demonstrated strong production potential:
- B-15A-1 tested at 1.66 mmscfd of gas and 1,833 barrels of oil per day (bopd)
- B-15-2 tested at 1,151 bopd and 0.91 mmscfd of gas from the Panna formation
With six wells already drilled and ample exploration upside, this block positions HOEC for robust near-term development.
Strategic Expansion in Mumbai Offshore
The acquisition further consolidates HOEC’s presence in the region, complementing its existing Block MB/OSDSF/B80/2016. With the addition of MB/OSDSF/B15/2024, HOEC now commands over 800 square kilometers of offshore acreage in the Mumbai basin. This solidifies its role as a leading independent oil and gas operator in India.
Aiming for Accelerated Development and Value Creation
Ramasamy Jeevanandam, Managing Director, HOEC, stated, “With this award, we continue to build a strong foundation for future growth. By developing existing discoveries and pursuing additional drilling opportunities, we aim to maximize value from this block while delivering sustainable returns to our stakeholders”.
Looking Ahead
The new offshore block opens up opportunities for enhanced reserve growth, improved resource monetization, and scalable development in one of India’s most prolific hydrocarbon basins. As reported by newsonprojects.com, HOEC remains focused on executing high-impact strategies that balance energy production with long-term value creation.
