Oil major Cairn India has rescheduled some of its exploration plans at the Krishna- Godavari basin, sources close to the company said today.
As per the 2009–10 exploration programme of the company, three wells, which were scheduled to be drilled in KG-ONN- 2003/1 at the KG basin in the last quarter, will now be carried out in the first quarter of the next financial year. Cairn holds a majority stake in the block.
Four wells in the KG-DWN-98/2 block, in which Cairn holds minority stake, will be drilled by the middle of the next financial year, sources said.
Cairn has also started 4D Ocean Bottom Cable (OBC) survey of the ageing Ravva oil and gas fields at PKGM-1 KG basin and will be over in two months. The company is confident of producing more oil from the fields before the expiry of the production sharing contract primary term in 2019, a company official said.
The 4D seismic survey could lead to the identification of fluid fronts, by-passed oil and also help optimise ongoing reservoir management efforts.
Ravva, now a mature field with 17 years of production, was originally estimated to produce 101 million barrels of crude oil. However, it has already produced more than 220 million barrels. The Ravva block’s operating cost per barrel at approximately $ 2 per bbl, the official said.
