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Cairn Oil & Gas ties up with Halliburton

MUMBAI :

Vedanta-led Cairn Oil & Gas, has entered a partnership with Halliburton Company to pursue the target of increasing its recoverable reserve from offshore assets to 300 mmboe (million barrels of oil equivalent)—a 10-fold increase from the present cumulative of 30 mmboe.

This announcement follows Cairn’s commitment of doubling its capacity, contributing 50% to India’s domestic crude production and assisting the country in its goal of achieving energy autonomy.

Prachur Sah, chief executive officer, Cairn Oil & Gas, said, “To increase domestic production, India needs to encourage exploration of new fields, increase investment and technology for ageing fields, and also incentivize unconventional options such as shale and gas. At Cairn, we have focused on a technology-led production augmentation strategy which has set an industry benchmark. This latest partnership is a continuation of our commitment to increase capacity to 500 kboepd (thousand barrels of oil equivalent per day) and double our contribution to domestic crude production.”

The partnership for offshore assets will evolve through three distinct stages of conceptual design, conceptual detailing, and execution. This will include geological and seismic studies, well-designing and engineering, and drilling to determine recoverable reserve. The offshore assets include Ravva, off the coast of Andhra Pradesh, Cambay, on the western coast, and several newly acquired OALP blocks. Halliburton is in the process of implementing a collaborative team of experts to collectively assess, plan and ultimately execute the project. The company will drive the use of innovative methodology that stems from its rich global experience.

“We are excited about this next phase of our relationship with Cairn and will continue to deliver our best-in-class service delivery in the India market,” said Sid Whyte, senior vice president of Middle East North Africa and Asia Pacific region for Halliburton. “We believe our collaboration with Cairn and engineered solutions will maximize their asset value and increase overall production growth for the country.”

Cairn has been a pioneer in implementing latest technology in its fields across the country. The Mangala field in Rajasthan is home to a full-field Enhanced Oil Recovery (EOR) polymer project that is among the largest of its kind in the world. Also, a large Alkaline Surfactant Polymer (ASP) project is currently under design to be executed in the next few years. The field also marks the starting point of the Mangala pipeline—the world’s longest continuously heated and insulated pipeline that carries crude from the fields of Rajasthan to the refineries of Gujarat.

The Ravva field, one of India’s largest offshore assets, is an example of excellent reservoir management and adoption of state-of-the-art technologies which has resulted in achieving recovery factor of more than 50%. This new partnership is another step in Cairn’s endeavor to achieve energy autonomy for India.

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