Cairn, partners plan $44m drilling programme in Ravva field
Cairn India JV is set to undertake a USD 44 million drilling campaign at its eastern offshore Ravva field at Krishna-Godavari basin from April 1 this year, sources close to the development said.
March 03, 2011 / 08:56 IST
Cairn India JV is set to undertake a USD 44 million drilling campaign at its eastern offshore Ravva field at Krishna-Godavari basin from April 1 this year, sources close to the development said.
"Cairn which is an operator of Ravva field, held a series of meetings last month with partners ONGC, Videocon and Marubeni-controlled Ravva Oil to discuss the work programme and budget for 2011-12 fiscal," sources told PTI.The meeting, attended by officials of Directorate of Hydrocarbons outlined plans to drill two new ''infill'' wells and to ''workover'' two old Ravva wells by March 2012.Cairn India and its joint venture partners have completed a 4D seismic campaign and data interpretation is on to identify bypassed oil zones.
According to industry analysts, the drilling of each new infill and workover well could cost about USD 11 million.However, sources said they could not estimate the quantum of oil or gas that can be further recovered from the wells at this stage."The Ravva consortium hopes to strike bypassed pools of oil. The programme aims to find oil left untapped by earlier drilling campaigns. Its difficult to say how much additional oil and gas could be gained from these planned wells," they said.According Cairn, the average gross production from Ravva field for Q3 FY 2010-11 was 39,434 boepd (comprising an average oil production of 29,667 bopd and average gas production of 59 million standard cubic feet per day). Ravva field has produced at a plateau rate of 50,000 b/d for more than a decade.An infill drilling campaign has commenced to drill new wells to augment production and Aban-II was hired last year for the purpose.The Ravva asset is a matured field and has already produced more than double than initially estimated by the ONGC. Cairn India operates the 331.26-sq km Ravva field with a 22.5% stake while Videocon Petroleum holds 25%, ONGC holds 40% and Marubeni-owned Ravva Oil holds 12.5%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
