Hindustan Oil gets operatorship of oil block

New Delhi, Sept 13: Hindustan Oil Exploration Company (HOEC) today said the government has approved the transfer of operatorship of an oil block from Premier Oil North East India BV to the company.

''The Directorate General of Hydrocarbons, Government of India, has approved the assignment of Participating Interest (PI) from Premier Oil North East India BV to the company thereby enhancing its PI from 25 per cent to 40.323 per cent,'' a company statement said.

HOEC was the first private company in India to enter into field of oil and gas exploration. The company has participating interest in eight oil/gas fields in India, Cambay basin, Cauvery basin and Assam Arrakan basin, which are in varying stages of exploration, development and production.

UNI