Oilex says Cambay facilities are ready for commissioning

Oil and gas explorer Oilex said the Cambay 73 production facilities in India were ready to be commissioned.

The London-listed group added the production facilities, which were expected to be connected to the recently-laid pipeline in May, will be tied-in with the remainder of the project now that they are ready for commissioning.

The Cambay 73 site, which is expected to produce approximately 50-60 barrels of oil equivalent per day of gas and condensate, will supply the gas market in the proximity of the area, with the condensate separated at the field and transported to a refinery.

"The commencement of gas production from the Cambay-73 facilities is a significant milestone for Oilex and marks the first step on the path to achieving positive cash flow from operations in India,” said group managing director Ron Miller.

Miller added that the group was on track to deliver on its plan of construction and growth.

Oilex shares were down 1.04% to 3.34p at 14:48 on Monday.