Hindustan Oil Exploration Company Ltd updates on FSO unit deployed in Block

Due to adverse weather conditions and in the interest of safety, the Floating Storage Offshore (FSO) unit deployed in Block MB/OSDSF/B-80/2016 (B-80) has been safely de-moored from the Single Point Mooring (SPM) and has been anchored at a secure location for over a week. Consequent to the above, production from the field has been temporarily suspended.

Since the de-mooring of the FSO, our marine team has been monitoring the weather conditions. We are prepared for re-mooring the FSO to the SPM as soon as the weather improves, allowing us to resume production from the field under favorable conditions. In the interim, the wells are secured with diesel and chemicals, and the export flowline is flushed with water.

Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 169.85 as compared to the previous close of Rs. 170.80. The total number of shares traded during the day was 23455 in over 333 trades.

The stock hit an intraday high of Rs. 171.55 and intraday low of 169.50. The net turnover during the day was Rs. 3994687.00.

Source : Equity Bulls

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