Hindustan Oil Exploration Company as the Operator of AAP-ON-94/1 consortium, has commenced the drilling of final appraisal well, Dirok-4, in Block AAP-ON-94/1. The company has 40.32% participating interest during exploration/appraisal period in the said block.
The company reported 76.27% decline in net profit for the quarter ended December 31, 2011 at Rs 4.81 crore.
Hindustan Oil Exploration Company was the first private company in India to enter into field of oil and gas exploration. The company’s operational activities commenced in 1991 with the Government of India announcing the fourth round of exploration bidding for private sector participation.
