HOEC expects production to go up to 25,000 barrels oil equivalent in 5 yrs

The Assam facility has seen a total investment of around Rs 3.5 bn

Hindustan Oil Exploration Company (HOEC) is expecting its production to go up from 500 barrels of oil equivalent during 2015 to around 8,000 barrels during the current fiscal year, backed by the growing production in its Assam facility. The company, which has been facing crisis after shutting down one of its facility in 2011, is expecting its three ongoing projects to take up the production to 25,000 barrels in three to five years, said P Elango, MD of the company.

In 2015, the company's production was of 500 barrels of oil equivalent, including for its partner firms. Of this, around