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Hindustan Oil Exploration to increase participating interest to 60% in Mumbai High block

08 Dec 2020 Evaluate

Hindustan Oil Exploration Company (HOEC) and Adbhoot Estates are holding 50% participating interest each under the Revenue Sharing Contract (RSC) for the block MB/OSDSF/B80/2016, an offshore oil field in Mumbai High. HOEC is the Operator to the block. The company has now entered into a Deed for Assignment and Assumption with Adbhoot for assigning 10% of its participating interest in the field in favor of the company. This in effect would increase HOEC's participating interest from 50% to 60% in the block.

The company has made necessary application to the Directorate General of Hydrocarbons in this regard on December 7, 2020 and the said assignment and assumption is subject to approval of the Government of India. The company is in the process of securing a loan facility in due compliance of the law to meet this additional capital costs.

Hindustan Oil Exploration Company is an oil and gas company. The company’s activities relate to exploration and production of hydrocarbons, which are natural resources. Its segments include Hydro carbon and Oil additives. Its products include crude oil and natural gas.

Hind Oil Exploration Share Price

164.40 0.30 (0.18%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 279.25
Oil India 454.40
Jindal Drilling&Inds 535.85
Deep Industries 457.70
Asian Energy Service 297.85
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