Key Quantitative Figures

Financial Results (Consolidated - INR Crore):

  • Q4FY26 Revenue from operations: (190.57) [negative due to inventory build-up]
  • Q4FY26 Net profit: 7.78
  • FY26 Net profit: 62.75
  • Earnings per share (Basic): 0.59 (Q4), 4.74 (FY26)
  • Inventory of crude oil and condensate: INR 393.72 crore (significant increase from INR 210.14 crore in FY25)
  • Total Assets: INR 2,170.79 crore
  • Property, Plant and Equipment (Oil & gas assets): INR 1,120.91 crore

Production Metrics (Q4FY26):

  • B-80 (Mumbai Offshore): 377 Barrels oil per day, 2.8 Mmscf gas per day
  • PY-1 (Cauvery): 0.26 Mmscf gas per day
  • Dirok (Assam): 13.43 Mmscf gas per day, 251.00 Barrels condensate per day
  • Kharsang (Arunachal Pradesh): 676.68 Barrels oil per day, 0.59 Mmscf gas per day

Reserves (April 1, 2026 - GCA Certified):

  • B-80: 16 MMBOE
  • Dirok: 226.04 BCF / 6.403 BCM
  • PY-1: 10.38 MMBOE

Operational Updates

HPCL Crude Dispute:

  • In August 2025, HOEC supplied ~417,000 barrels of crude oil to HPCL
  • HPCL raised concerns regarding presence of organic chlorides in the crude stream
  • Revenue of ~INR 260 crore held up due to the ongoing dispute
  • Conciliation framework initiated between parties
  • HOEC has initiated resale of treated crude volumes to alternate buyers
  • No operational impact on production capability of B-80 field

Asset-wise Developments:

B-80 (Mumbai Offshore, 100% PI):

  • Successfully took over AEPL's 40% stake, now 100% ownership
  • Workover of two existing subsea wells targeted in Q3FY27
  • Drilling of 3 new wells to commence in Q4FY27
  • Estimated FY27 capex: USD 30.5 million
  • Only ~1 million bbls of total P2 reserves of 26 million produced so far

B-15 (Mumbai Offshore, 100% PI - DSF Block):

  • Obtained petroleum lease in March 2026
  • Technical studies for FDP in progress
  • Drilling expected to commence in FY28

PY-1 (Cauvery Offshore, 100% PI):

  • Production Sharing Contract extended till October 5, 2030
  • PetroVietnam recommended drilling 2 directional wells
  • Booster Compressor target installation October 2026
  • 2 wells expected to commence drilling by Q4FY27

Dirok (Assam, 27% PI):

  • Revised FDP approved by MoPNG, securing block for 10 years till 2035
  • PSC extension signing under final review with DGH/MoPNG, likely by July 2026
  • Current production constrained by gas evacuation infrastructure
  • Civil work for exploration well ND-1 in progress, spud expected Q3/Q4FY27

Kharsang (Arunachal Pradesh, 35% PI):

  • Drilled 9 development wells during FY25-26 (6 oil wells, 3 gas wells)
  • Gross production raised from 325 BOPD to 726 BOPD
  • 3 wells tested gas ranging from 3.4MMSCFD to 8.6MMSCFD
  • Plan to drill additional 9 development wells in FY27

Future Plans & Targets:

  • Multi-asset, staged well delivery programme 2026-2029
  • Target: 25K BOE/d by 2027
  • Kharsang: Add 9 dev wells + 2 exp wells in FY27
  • Dirok: Target 70 mmscfd gross once NE Gas Grid online
  • B-80: Peak target of 5000 BOPD
  • PY-1: Target 20 MMSCFD with 3 new wells