Cairn India, operator of the Ravva offshore fields in the east coast, has set high hopes on the latest drilling programme to boost output. ?The company is in the final stages of drilling the high-pressure, high-temperature well. In October 2013, the explorers began spudding the LO-110 prospect, which would be completed before the onset of monsoons,? an official privy to the development told FE.
The $100-million exploration programme targets to tap more hydrocarbon resource in the eastern offshore field by better reservoir management. The LO-110 prospect is estimated to hold recoverable gas of about 368 billion cubic feet (or 10 billion cubic metres) and another 16 million barrels of condensate.
The drilling exercise is to reach a depth of 4,140 metres. Of this, drilling up to 2,720 metres has been completed by March 31. Cairn India has hired jack-up rigs from Houston-based Hercules Offshore. The rig ? Hercules Triumph ? is expected to complete the drilling programme by June.
Recently, Cairn India had said that drilling is ongoing amid some tough weather conditions leading to operational difficulties. At the same time, it was learnt that the explorers would utilise another rig ? Hercules 208 ? till March 2015 for three-well infill drilling programme to tap more hydrocarbon.
Cairn India has been able to utilise the latest technology to monetise oil and gas prospects in both onshore fields in Barmer Rajasthan as well as offshore asset in Ravva. Better technology helps to understand reservoir structure and identify zones from where oil and gas could be pumped out.
Since 1994, the Ravva block has produced more than 261 million barrels of crude and over 330 billion cubic feet of gas. The asset produced at an average rate of 27,386 barrels of oil equivalent per day in 2013.
Cairn India has a 22.5% operating stake in the field, ONGC holds 40%, while Petrocon India and Singapore-based Ravva Oil have 25% and 12.5%, respectively.