Hardy Exploration & Production India (HEPI) has awarded a key contract for a floating production, storage and offloading vessel destined for its operated PY-3 field concession in the Cauvery basin offshore India’s east coast.

Multiple people close to the development told Upstream that HEPI — owned by India’s Invenire Energy —recently placed a Letter of Award (LoA) for the FPSO, with one source adding that “the floater is likely to be mobilised within 180 days”.

The floater contract has been awarded to United Arab Emirates-based Svetah Energy Infrastructure for a firm period of five years, with a potential five-year extension, a second person stated.