New Delhi: In a significant milestone for India’s upstream oil and gas sector, a Joint Venture (JV) led by Oil and Natural Gas Corporation Limited (ONGC), along with Hardy Exploration & Production (India) Inc. and Invenire Petrodyne Limited, has successfully resumed production from the PY-3 Field, located offshore in the Cauvery Basin on India’s east coast. The field came back onstream on May 23, 2025.
Originally commissioned in 1997, the PY-3 Field had remained inactive since July 2011. The revival follows the successful implementation of a multi-phase Revised Field Development Plan (FDP) aimed at reactivating production from the mature offshore asset.
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Completion of Phase I
Phase I of the FDP, now completed, involved critical infrastructure upgrades including the integrity assessment and reactivation of the subsea well PD3SA, installation of new subsea infrastructure, and integration with the Floating Production, Storage, and Offloading (FPSO) vessel Svetah Venetia. The FPSO is currently processing, separating, and storing oil, which is then offloaded via shuttle tankers for delivery to refineries.
Next Phase to Boost Output
Phase II of the development plan will focus on drilling additional wells and deploying Enhanced Oil Recovery (EOR) techniques to maximize extraction of light, sweet crude from the field. These steps are expected to significantly increase production output.
JV Structure and Roles
Hardy Exploration & Production (India) Inc., part of the Invenire Energy Group, serves as the operator of the block with an effective 22.79% participating interest. ONGC holds the majority stake at 50.63%, while Invenire Petrodyne Limited owns the remaining 26.58%.
In a joint statement, Mr Manish Maheshwari, Chairman of Invenire Energy, and Mr Arunangshu Sarkar, Director (Strategy & Corporate Affairs), ONGC, expressed gratitude to the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Hydrocarbons (DGH) for their consistent support and guidance.
“This achievement underscores our collective commitment to contributing to India’s energy security,” said Mr Maheshwari, calling the resumption of production a “landmark moment” in Invenire’s operational journey.
The successful revival of the PY-3 Field marks a positive step toward enhancing domestic hydrocarbon production and aligns with the government’s broader energy self-reliance goals.
About ONGC
ONGC is India’s largest government-owned oil and gas exploration and production company. Established on August 14, 1956, ONGC is a Maharatna Public Sector Undertaking (PSU) under the Ministry of Petroleum and Natural Gas. Headquartered in New Delhi, ONGC is pivotal to India’s energy security and economic growth.
