Production has officially resumed from the PY-3 offshore oil field in the Cauvery Basin on the east coast, operated by a joint venture of Oil and Natural Gas Corporation (ONGC), Hardy Exploration & Production (India), and Invenire Petrodyne. Originally brought online in 1997, the field had been shut down since July 2011. Revival efforts through a multi-phase revised field development plan (FDP) have now yielded results.

The completion of Phase I included integrity checks, conditioning, and activation of the subsea well PD3SA, installation of subsea infrastructure, and connection to the floating production, storage, and offloading (FPSO) vessel, Svetah Venetia. The FPSO processes and separates oil, gas, and water, with the produced oil stored onboard and offloaded to shuttle tankers for refinery transport.

Phase II of the FDP will focus on drilling additional wells and implementing enhanced oil recovery (EOR) techniques to maximize output from this light, sweet crude oil-producing field.

Hardy Exploration, part of Invenire Energy Group, is the block operator with a 22.79 percent stake. ONGC holds 50.63 percent, while Invenire Petrodyne owns the remaining 26.58 percent.