HOEC at the double with low-cost model

摘要

CHENNAI-BASED Hindustan Oil Exploration Company (HOEC) aims to more than double its hydrocarbon production in another two years and plans to participate in India's upcoming licensing rounds, writes Nishant Ugal. The company has been working on a turnaround plan that focuses on developing its discovered resources using a less costly fast-track model. HOEC is producing about 7000 barrels of oil equivalent per day and plans to ramp up to more than 15,000 boepd by 2020 to 2021, says Elango.