U.S.-based Hardy Exploration and Production (India) Inc. has revived a declining oil field off India's southern coast and increased its output by over 2,000 bpd. Hardy Exploration's chief executive, Sastry Karra, said his company drilled India's deepest horizontal well of about 1,200 m to revive the PY-3 field and step up its output to 5,600 bpd from 3,600 bpd. "This lateral well flowing a light crude of 49 API and another one we are starting to drill today should extend the life of the PY-3 field by several years at least," Karra said. In April, Karra told Reuters the firm was likely to spend about $16 million for drilling two new lateral wells and using water injection technology to extend the life of the declining field -- then producing 4,000 bpd -- by another five years.