An oil pipe sits in the turntable assembly on a drilling rig in an oilfield. (Photographer: Andrey Rudakov/Bloomberg)

Mercator To Begin Commercial Production Of Oil By July

Mercator Ltd. will commence commercial production of oil over the next four-five months, Chief Executive Officer Shalabh Mittal said in an interview with BloombergQuint today. This comes after the Directorate General of Hydrocarbons approved Mercator’s field development plan for its oil discoveries.

Trial production of oil will kick-start in March and the company—with diversified interests in coal, oil and gas and commodity transportation—will initially target a production up to 6,000 barrels a day, Mittal said.

Watch the full conversation here: