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Hindustan Oil Exploration Company (HOEC) was incorporated in 1983 for taking up Exploration and Production (E&P) activities by Late H T Parekh. HOEC was the first private company in India to enter into field of oil and gas exploration. HOEC’s operational activities commenced in 1991 with the Government of India announcing the fourth round of exploration bidding for private sector participation.
HOEC is an Operator of 3 blocks in onshore Cambay basin, Gujarat currently under production of crude oil and gas since last several years. The three blocks are located at 1. Block CB-ON/7 - Palej Production Facilities [PPF] at village Makan, District Vadodara, Gujarat2. Block North Balol – Gas Collection Station [GCS] at village Palaj, District Mehsana, Gujarat3. Block Asjol – Early Production System [EPS] at village Katosan, District Mehsana, Gujarat
The company has participating interest in seven oil/gas fields in India (in Cambay basin, Cauvery basin and Assam Arakan basin), which are in varying stages of E & P life cycle i.e. exploration, development and production.
HOEC has been under professional management since inception consisting of eminent industrialists, professionals and technocrats like Late Shri B K Nehru, Late Dr I G Patel, Shri Deepak Parekh and the current Chairman Shri R. Vasudevan.
In 2005, Burren Shakti Ltd (BSL) and Burren Energy India Ltd (BEIL), wholly owned subsidiary of Burren Energy plc (Burren), acquired 26% controlling stake in the Company from Unocal. Burren is a London based exploration and production company, having core producing assets in the Caspian state of Turkmenistan, the Republic of Congo and Egypt. In February 2008, Burren was acquired by ENI UK Holdings plc which is a subsidiary of ENI spa, Italy.
The Company has a 100% subsidiary, HOEC Bardahl India Ltd, engaged in marketing of high performance fuel / engine additives.HOEC Bardahl India Limited (HBIL) is the subsidiary of the company - HOEC and Bardahl Manufacturing Corporation Inc., USA, (Bardahl) engaged in the formulation, manufacturing and marketing of Bardahl range of high performance engine additives, conducted a joint marketing study on the sale of such additives in India. The results were quite encouraging, suggesting that this could be a viable project.HOEC and Bardahl have agreed to undertake the new project through HOEC Bardahl India Limited (formerly Hindage Oilfield Services Limited) a wholly owned subsidiary of HOEC.
HOEC has 38.07% non-operating participating interest in the Gulf ‘A’ discovery in the Block CB-OS-1development area has been informed by the Operator (ONGC), that the Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas, Government of India has given its approval for the development plan.
July 17, 2009: Hardy Exploration & Production (India) Inc., the Operator of the PY-3 field has informed the company that due to export hose damage at normor buoy, the production at PY-3 field has been shut down. Efforts are currently ongoing to restart the production. The company has 21% participating interest in the said field.
July 21, 2009: The Block name RJ-ONN-2005/1 and RJ-ONN-2005/2 acquired under NELP VII has been granted Petroleum Exploration License by the Government of Rajasthan.
Oct 16, 2009: The company commenced the production of natural gas from PY-1 field.
Hindustan Oil Exploration Company was incorporated in 1983 when there was a dire requirement for private participation in the Indian Oil and Gas sector. It is based in Chennai, India. After more than three decades of existence, it has emerged as a fast-growing & independent Exploration & Production player in India. The company gives geophysical & geological services based on the exploration of oil & natural gas and other oil field services.
Hindustan Oil Exploration Company stock fundamental analysis provides a triple-digit bottom-line growth over the past couple of years with its most recent earnings level exceptional compared to its average level over the last 5 years. This company aims to build long-term stakeholder value. The company contains a 100% subsidiary namely HOEC Bardahl India Ltd, which is occupied in the marketing of fuel or engine ingredients.STOCK FUNDAMENTAL ANALYSIS OF HINDUSTAN OIL EXPLORATION COMPANY
Stock investing needs careful analysis of financial data. This is done by scrutinising the profit and loss statement of Hindustan Oil, the balance sheet of Hindustan Oil with ratio analysis, & the cash flow statement. The stock-o-meter feature offers the latest figures of the ratios & other financials of the company. This aids the investor to make an informed & well-evaluated investment decision.MERGERS AND ACQUISITIONS
Hindustan Oil Exploration Company is India's only openly quoted oil & gas exploration & production company outside the state-controlled sector. The assets of this company are geographically spread across Gujarat, Tamil Nadu, Assam, and Arunachal Pradesh with a balanced portfolio of development & production assets in onshore and offshore.SERVICES
Geopetrol Mauritius Limited: It was started in Mauritius, a wholly-owned subsidiary of Geopetrol International Inc. It is also engaged in the exploration & development of Oil & Gas Blocks. It contains 50% shareholding in GeoEnpro Petroleum Limited which is the operator of the Kharsang Oilfield.
2018: Hindustan Oil Exploration Company awarded contract area in consortium with IOCL under the DSF -11 bid round.MILESTONES
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