Cairn India could soon get a 20 per cent hike in the price of natural as produced from its eastern offshore field of Ravva on a retrospective basis from June 2010.
Sources in the company said that the Centre is set to raise the price of gas from the Ravva Contract Area 1 to $4.2 per million British thermal unit (mBtu) as against $3.5 per mBtu it gets currently.
Ravva is divided into Contract Area 1 and Ravva Satellite. It already gets $4.3 per mBtu from the Ravva Satellite field but gets $3.5 per mBtu from Ravva Contract Area 1.