Cairn to invest Rs 3,240 crre in Ravva Field

Cairn India Limited, in association with its partners, is planning to invest Rs 3,240 crore in the Ravva Fields in the Krishna-Godavari Basin.

The investment is to undertake 20 Developmental Wells and for setting up related infrastructure, as the oil and gas production is dwindling from the existing wells.

In this regard, Cairn has approached the Ministry of Environment Forest and Climate Change seeking necessary clearances for the proposed project.

As per the minutes of the meeting by Expert Appraisal Committee under the Ministry, the proposal was given green signal as far as Coastal Regulation Zone (CRZ) is concerned.

Minutes of the meeting said, “In order to enhance the hydrocarbon production within the already approved capacities, Cairn India Limited on behalf of Ravva JV proposes the following oil and gas developments to produce contingent hydrocarbon resources available in Ravva Field-Drilling of 20 developmental wells: 6 from new RI Platform and 14 from existing platforms… Drilling of 6 nos. of exploratory/appraisal wells to assess presence of hydrocarbons in identified pockets. The cost of the above proposed oil and gas development is estimated to be approximately Rs 3,240 crore.”

Image Credit : images.financialexpress.com

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