Cairn JV to invest $100 mn to drill deeper well in KG basin
Agencies: Hyderabad , Nov 11 2012, 14:41 IST
estimated to produce 101 million barrels of crude oil, the field has to date produced more than 249 million barrels and sold 310 billion cubic feet of gas.
Cairn and the Ravva JV have said they are confident of the field's considerable remaining reserve potential and of producing more oil from this block.
This has been possible only through life-cycle planning, continuous monitoring and the innovative application of operating technologies, sources added.
Meanwhile, Cairn India in a recent corporate presentation said an appraisal well drilling was planned in the first quarter of next year to evaluate size and commerciality of the second discovery it made in KG-Basin – Nagayalanka-SE.
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