Cairn JV Begins New 9 Month Drilling at Ravva Field

NEW DELHI Oct 5, 2006 (Dow Jones Newswires)

U.K.-based Cairn Energy PLC (CNE.LN) Thursday said it has initiated a new drilling campaign in the joint venture Ravva oil field located off the coast of the southern Andhra Pradesh state.

In a statement Cairn said: "It is envisaged that the nine-month long program will allow Ravva oil field to stay on plateau production of 50,000 barrels of oil a day until the end of 2007."

Cairn didn't provide the size of the investment by the joint venture partners in the campaign.

The Ravva field has been producing oil for more than a decade. Cairn is the field's operator.

"Six infill wells and one firm exploration prospect will be drilled using the Hercules rig which arrived in the region from Malaysia recently," Cairn said, adding that in addition to these seven, there are options for this rig to drill a further five wells.

The crude oil produced at the Ravva field is sold to state-run refiners Bongaigaon Refinery & Petrochemicals Ltd. (500072.BY) and Hindustan Petroleum Corp. (500104.BY).

Cairn holds a 22.5% stake in Ravva. India's state-run petroleum exploration company Oil & Natural Gas Corp. (500312.BY) holds a 40% stake, while 25% is held by Videocon Industries Ltd. (511389.BY). Ravva Oil, a wholly owned subsidiary of Marubeni Corp. (8002.TO), holds the remaining 12.5%.

Copyright (c) 2006 Dow Jones & Company, Inc.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Field Maintenance Controls Technician
Expertise: Maintenance Technician|Rig Mechanic
Location: Eighty Four, PA
Maintenance Supervisor - Drilling
Expertise: Maintenance Manager|Rig Mechanic
Location: Eighty Four, PA
Whipstock Welder
Expertise: Rig Welder|Welding|Workshop
Location: Lafayette, LA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours