HOEC

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ABOUT US

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Through the years

HOEC was incorporated in 1983 under the visionary leadership of Late Shri. H.T. Parekh who foresaw the need for private participation in the Indian Oil & Gas sector. As one of the pioneer private players in the Indian E&P sector, HOEC holds a portfolio consists of 9 Oil & Gas blocks of Discovered Resources and 1 Exploratory block, with a diverse geographical footprint in 4 out of 7 producing basins in India. HOEC is listed in National Stock Exchange of India Limited & BSE Ltd.
Driven by the vision to emerge as the finest Independent Oil and Gas Company that beneficially transforms the interest of every stakeholder through ‘Talent and Technology’, HOEC is committed on building a strong organisation and create long-term stakeholder value while ensuring that we ‘Grow Responsibly’.

Late Shri H.T. Parekh

Founder Chairman

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DECADES AT A GLANCE

The journey of HOEC, over these years,
has been a tale of conviction and commitment

1983

1992
  • Incorporation
  • HOEC offers all geophysical services and seismic data acquisition services
  • HOEC gets listed on BSE Ltd. through Public Issue
  • HOEC acquires Hindage Oilfield Services Ltd.
1993

2002
  • HOEC signs its first PSC for an onshore area with the Government of India.
  • ‘First Oil’ from Asjol field
  • Expanding the asset portfolio - PY-3, AAP-ON-94/1, CB-ON-7 (Palej), North Balol
  • Commencement of Production from PY-3, CBON-7 and North Balol
  • HOEC gets listed in National Stock Exchange of India Ltd.
2003

2012
  • First offshore campaign at PY-1 field
  • ENI UK becomes the Promoter consequent to open offer
  • Commercial production from PY-1 field commences
  • PY-1 field revival campaign begins
2013

2022
  • Divestment of HOEC stake by ENI Group entities
  • Successful drilling of 'Dirok-4' and submission of commercial discovery report
  • "First Gas" from Dirok field
  • Blocks awarded under DSF Policy and OALP Policy – Block B-80, Kherem, Umatara and AA-ONHP-2017/19
  • HOEC acquires Geopetrol International Inc. along with Geopetrol Mauritius Limited, thereby holding 30% PI in Kharsang field
  • Drilling & completion of 2 subsea development wells in B-80 offshore field
  • Commercial production from B-80 offshore field commences
2023

Present
  • Reclassification of ENI Group holding from Promoter to Public category
  • HOEC acquires GeoEnpro Petroleum Limited (Operator of Kharsang Field) through its subsidiary; HOEC acquired additional 5% in Kharsang field
  • Sand-9 of well Dirok-1 tested and successfully flowed gas
1983

1992
  • Incorporation
  • HOEC offers all geophysical services and seismic data acquisition services
  • HOEC gets listed on BSE Ltd. through Public Issue
  • HOEC acquires Hindage Oilfield Services Ltd.
1993

2022
  • HOEC signs its first PSC for an onshore area with the Government of India.
  • ‘First Oil’ from Asjol field
  • Expanding the asset portfolio - PY-3, AAP-ON-94/1, CB-ON-7 (Palej), North Balol
  • Commencement of Production from PY-3, CBON-7 and North Balol
  • HOEC gets listed in National Stock Exchange of India Ltd.
2003

2012
  • First offshore campaign at PY-1 field
  • ENI UK becomes the Promoter consequent to open offer
  • Commercial production from PY-1 field commences
  • PY-1 field revival campaign begins
  • HOEC acquires Geopetrol International Inc.
2013

2022
  • Divestment of HOEC stake by ENI Group entities
  • Successful drilling of ‘Dirok-4’ and submission of commercial discovery report
  • "First Gas" from Dirok field
  • Blocks awarded under DSF Bid Round 2016 and OALP Bid Round 2019
  • Drilling & completion of 2 subsea development wells in B-80 offshore field
  • Commercial production from B-80 offshore field commences
2023

Present
  • Reclassification of ENI Group holding from Promoter to Public category
  • HOEC acquires GeoEnpro Petroleum Limited (Operator of Kharsang Field) through 2023 - present its subsidiary

Guiding Values

Safety

Safety

We pledge to work tirelessly
to ensure that all our
operational activities
are conducted in accordance
with the highest safety
standards

Planning

Planning

We will plan meticulously
to succeed, and will
continue to enhance our
planning, both as
individuals and teams

Technology & Innovation

Technology & Innovation

We will endeavour to embrace
technology & innovation,
wherever we can, to carry
out our core operations in a
better and smarter way.

Respect & Care

Respect & Care

We promise to show
respect and care for
individuals, the surrounding
community and the
environment in all our
operations

Safety

Safety

We pledge to work tirelessly to ensure that all our operational activities are conducted in accordance with the highest safety standards

Planning

Planning

We will plan meticulously to succeed, and will continue to enhance our planning, both as individuals and teams

Technology & Innovation

Technology & Innovation

We will endeavour to embrace technology & innovation, wherever we can, to carry out our core operations in a better and smarter way.

Respect & Care

Careers

We promise to show respect and care for individuals, the surrounding community and the environment in all our operations

Strategic Direction

Focus on Discovered Resources to fast track project and monetize resources at a faster pace
Asset Model by focussing on core operations, resource and outsource with global expertise
Light-Asset Model by focussing on core operations and outsource associated tasks to partners with global expertise
Take advantage of existing infrastructure and synergies with local contents
Take advantage of the existing infrastructure while adding assets with synergies to the current asset portfolio
Follow low-cost operating model to emerge as self-funding company with sustainable cash flow from the producing assets
Create long term stakeholder
value while ensuring that we
‘Grow Responsibly’
Ensuring reserve replacement and scouting for organic and inorganic exploration and development opportunities on a continuous basis.