This block extends over an area of 81 sq. km. and contains PY-3 field (core area), which has been on production since 1997 using a floating production system and offshore storage tanker. All the crude oil is sold to Chennai Petroleum Corporation Limited (CPCL), the Government’s nominee, at a price linked to Brent.
During 2005-06, the PY-3 Consortium acquired new 3D Seismic data. Based on interpretation of new 3D data and revised Geological and Reservoir Modeling, the JV Consortium shall consider drilling additional wells to enhance production.