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Rise in crude price positive for HOEC, says co’s MD Elango

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Rise in crude price positive for HOEC, says co’s MD Elango

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A rise in crude price is positive for Hindustan Oil Exploration Company, the company’s Managing Director P Elango told CNBC-TV18.

A rise in crude price is positive for Hindustan Oil Exploration Company, the company’s Managing Director P Elango told CNBC-TV18.

“We do about 15 percent crude and 85 percent of gas. We are implementing B-802 (B-80 is a discovered small field in the western offshore of India) development project in Mumbai High and that would come on stream early next year,” he said.
According to him, the company will be able to double the production capacity once the new project starts.
For entire interview, watch video
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