Business Daily from THE HINDU group of publications
Thursday, Dec 21, 2006
ePaper
Business Daily from THE HINDU group of publications Thursday, Dec 21, 2006 ePaper |
|
|
|
|
|
|
|
Corporate
-
Outlook Industry & Economy - Petroleum Cairn India eyes more finds in Ravva offshore Pratim Ranjan Bose
Kolkata, Dec 20 Cairn India plans to explore new oil and gas reserves under the existing reserves in the Ravva offshore oilfield in the Krishna-Godavari basin. The plan follows encouraging results thrown up by seismic surveys in the block and the slew of major strikes by GSPC, Reliance and ONGC in the same basin. A shallow-water offshore block, Ravva currently produces about 50,000 barrels of oil a day and one million metric standard cubic metre (mmscmd) of natural gas per day from wells located 1,500-2,000 metres under the seabed. "We are now planning to explore new pay zones at a targeted depth of 3,000 to 3,500 metres," a company official told Business Line adding that the company now plans to launch the latest 4-D (four dimension) seismic data acquisition programme in the field by the next fiscal. The project is expected to cost approximately $15 million. The joint venture has already conducted a 3-D seismic survey in the block and the pre-feasibility study for launching the 4-D data acquisition programme. The detailed programme, however, will be finalised in consultation with the joint venture partners. Depending on the results of the data acquisition programme, the joint venture may go in for exploration drilling at the targeted depths. Cairn holds 22.5 per cent operating interest in the joint venture. The other partners are ONGC (40 per cent), Videocon (25 per cent) and Ravva Oil (12.5 per cent). The later is a wholly owned subsidiary of Marubeni Corporation. The joint venture has already launched a $90-million programme to expand the size of the existing reserve and maintain plateau production rate beyond 2007. The programme includes drilling five in-fill wells, one exploration well and one appraisal well.
Related Stories: More Stories on : Outlook | Petroleum
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|