Hardy Oil's south east Indian field shut-in

3rd Aug 2011 08:43

Hardy Oil and Gas said its PY-3 field in the south east Indian region was shut in pending management committee approval of the award of a contract for the field's floating production system. The oil and gas exploration and production company focused in India said it is working closely with all the stakeholders to secure the necessary approval and will "recommence production as soon as possible"Hardy is the operator of the PY-3 field and holds an 18% participating interest. State-run ONGC and Tata also hold participating interest in the field. Shares of the UK company dropped 2% to 219p in morning trading session in London.AR