Cairn oil exploration most successful op in recent times
Shirajiv SIRIMANE
The Sri Lankan oil exploration process undertaken by Cairn Lanka is
one of the most successful operations in recent times in the region. Sri
Lanka’s dream of its own hydrocarbon reserves became true after the back
to back discovery of natural gas in two wells in the Mannar basin by
Cairn Lanka.
Cairn Lanka is a 100 percent subsidiary of Asia’s fastest growing E&P
Company. Cairn India, has notified the Sri Lankan government of its
intention to enter the second phase of exploration.
The Indian company had invested US $ 78 million for the process in
2011. Further investments are expected from Cairn Lanka, as the company
plans to enter the second phase of exploration.
This announcement was made following the successful completion of the
first phase of exploration, analysts said.
Cairn India is responsible for the delivery of significant domestic
crude production from its operated assets across India.
With more than 40 discoveries to its credit date, the company has
brought substantial benefits to India and to the states of Rajasthan,
Andhra Pradesh and Gujarat.
Three out of seven landmark discoveries in India in the last decade
have been attributed to Cairn India.
Cairn India’s 100 percent subsidiary Cairn Lanka is exploring in the
Mannar basin. Cairn Lanka’s successful drilling programme, the first in
Sri Lanka in 30 years - has established a working petroleum system in
the frontier Mannar Basin. It has put Sri Lanka on the world hydrocarbon
map.
Cairn Lanka (Private) Limited, a wholly owned subsidiary of Cairn
India
Limited, has successfully completed the first phase of the
exploration campaign in Sri Lanka Block SL-2007-01-001. The exploration
programme involved the acquisition, processing and interpretation of
1,753 sq km of 3D seismic data and a three well deep water drilling
programme.
The state - of - the - art fifth generation drillship ‘Chikyu’, from
Japan was mobilised for the exploratory drilling campaign in the SL
2007-01-001 block that commenced in August 2011. Prior to initiating the
drilling campaign, Cairn Lanka had appointed CGG Veritas AS for
collating the seismic data with the help of seismic vessel SR/V Viking
II.
Cairn Lanka has completed the seismic programme which exceeded the
phase I commitment by about 20 percent and in the drilling programme the
company exceeded the drilling depth commitment by 50 percent.
The operations were conducted safely, in accordance with the highest
global standards, within schedule, budget and in compliance with Sri
Lankan regulations.
The support of the government and an effective partnership with the
Sri Lanka authorities in Sri Lankan, were instrumental in ensuring the
successful completion of the first phase exploration programme.
Cairn India Limited, the parent company of Cairn Lanka, is listed on
the Bombay Stock Exchange and the National Stock Exchange of India since
2007.
Cairn India is headquartered in Gurgaon in the National Capital
Region, with operational offices in Tamil Nadu, Gujarat, Andhra Pradesh,
Rajasthan and Sri Lanka.
According to Platts, Cairn India is Asia’s fastest growing and
world’s fourth fastest growing hydrocarbon exploration and production
company. The average daily gross operated production was 149,103 boe in
FY2011. The company sells its oil to major refineries in India and its
gas to both PSU and private buyers.
The company has a world-class resource base, with interest in nine
blocks in India and one in Sri Lanka.
Cairn India’s resource base is located in three strategically focused
areas, namely, one block in Rajasthan, three on the west coast of India
and six on the east coast of India, including one in Sri Lanka. |