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Cairn India
Cairn to start seismic work in Ravva fields
Posted by :
HarikrishnanTracked by: 0 Boarder
Cairn India is in the process of finalising plans to take up time lapse 4D seismic studies in the deeper sands of the Ravva Oil fields in the Krishna Godavari basin region.
This is aimed at enhancing the recovery in the oil wells for the next phase of growth. The Ravva fields have been a cornerstone for Cairn’s growth in India, even as the company takes up other fields in India and the region.
“The 4D seismic time lapse study will be taken up early 2009 and help assess additional potential in the region and thereafter chart out investment plans,” a senior company official told Business Line.
Ravva fields have sustained an average production level of 50,000 barrels a day, contributing to country’s oil production and through various taxes.
Evaluating options
As is the case with oil fields faced with the prospect of plateau and decline, the Cairn consortium is evaluating various options to upgrade reserves.
These include enhancing the recovery through water injection and gas lift support, undertaking 4D seismic work in discovered reservoirs aimed at adding incremental reserves and developing them through drilling campaigns.
The company also plans to explore deeper wells and to tap into potential development of satellite pools and discoveries, he explained.
Already two exploration wells have been drilled. Four small-sized oil and gas discoveries made.
These new wells are under test production yielding 525 barrels a day.
Technical work is underway to convert these discoveries into commercially extractible assets.
Investments
A modelling study by WesternGenco indicated that the Ravva fields are ideal for time lapse (4D) seismic acquisition, he said.
Cairn and its partners have invested .01 billion so far in Ravva for exploration, development and production yielding 200 million barrels of oil.
This resulted in .07 billion to the Central Government in profit petroleum, royalty and cess.
In addition, the Centre secured gas royalty of million and the field also generated sales tax of Rs 1,335 crore for the Andhra Pradesh Government.
What was seen as marginal field has helped generate significant revenues over the years and also in the form of taxes and royalty.
Efforts will now be stepped up to sustain production in these wells, he explained.
Ravva field is known for lowest cost of production, which is now about .5 a barrel.
In fact, it was less than in 2007. While the company builds on its investments in other parts of the country including Rajasthan, any incremental gain will add value, he felt.
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Cairn urges Ministry to decide fast on nominee refineries
Posted by : sharepredictorTracked by: 0 Boarder
sell and get out. Oil sector will be out of favor for the next 2-3 years. Oil wont go above 60$ and that will eat away cairn`s profits. Buy when the price reaches Rs40 or Rs50...
In reply to:
Cairn urges Ministry to decide fast on nominee refineries
Posted by :
readarticle
whats the impact on the stock price and does this benefit the company? 
Cairn down taget=60....
Posted by : sharepredictorTracked by: 0 Boarder
sell the stock. It is trading today at a PE of 75. If we consider normal PE of 25, it should be trading around Rs50. Current stock price is not justified. I think the stock will correct seriously now. Also it formed a h&f pattern, so it should theoretically slide to 90 soon before another leg of down move starts....
In reply to:
Cairn down taget=60....
Posted by :
viperexpress
Marketman is our friend. His prediction is needed to make sure that your wallet is ready to buy when the prices are near his predictions. But even he couldnt predict Unitech`s current levels. I hope his predictions on Cairn comes true as I will then buy in tons.
Cairn down taget=60....
Posted by : viperexpressTracked by: 0 Boarder
Marketman is our friend. His prediction is needed to make sure that your wallet is ready to buy when the prices are near his predictions. But even he couldnt predict Unitech`s current levels. I hope his predictions on Cairn comes true as I will then buy in tons....
In reply to:
Cairn down taget=60....
Posted by : marketman
The stock of cairn india may drop to 60 levels in coming sessions....
India`s cabinet has rejected an oil ministry proposal to award a deepwater block off the west coast to Cairn India Ltd (CAIL.BO: Quote, Profile, Resea
Posted by : HarikrishnanTracked by: 0 Boarder
India`s cabinet has rejected an oil ministry proposal to award a deepwater block off the west coast to Cairn India Ltd a unit of U.K. explorer Cairn Energy Plc a government source said on Thursday.
The oil ministry official, who could not be named, told Reuters the company had not offered the government an attractive enough share of potential production.
Earlier, Oil Secretary R.S. Pandey said the federal cabinet had approved the award of 44 out of 45 blocks as recommended by the oil ministry. "One Mumbai basin block has not been approved by the cabinet
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Govt canceles Cairn India bid for Mumbai basin
Posted by : HarikrishnanTracked by: 0 Boarder
Govt canceles Cairn India bid for Mumbai basin.... more news??...
Cairn urges Ministry to decide fast on nominee refineries
Posted by : readarticleTracked by: 0 Boarder
whats the impact on the stock price and does this benefit the company?...
In reply to:
Cairn urges Ministry to decide fast on nominee refineries
Posted by : Harikrishnan
Cairn India Ltd (CIL) has approached the Petroleum Ministry to take an early call on the refineries it will nominate to lift Rajasthan crude. The company wants a clear picture, so that a decision on the valuation of crude can be taken before the production commences, official sources said.
Cairn, which follows the January-December financial year, is targeting second quarter of 2009 to start commercial production from its Barmer fields in Rajasthan. “Since the price of the crude is to be decided between the Government nominee/nominees and the contractor, it is important to have a clear indication,” sources told Business Line.
production sharing contract
The production sharing contract (PSC) signed with the Union Government stipulates that the parities – the buyers and sellers – should meet six months prior to the commencement of commercial production, to establish an appropriate basket of crude oil to calculate the price.
Cairn India plans to produce 8.25 million tonnes a year of crude at its Barmer oil field. ONGC is a 30 per cent partner in the field.
Official sources said that “discussions on nominee refineries are going on.”
The situation arose since Mangalore Refinery and Petrochemicals Ltd (MRPL), which is the official nominee, has indicated that it can lift only up to 1.2 million tonnes. This has lead to the Government considering having more than one nominee.
While Indian Oil Corporation Ltd has said it can take up to two million tonnes of crude, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation can take up to one million tonnes each.
However, now MRPL has indicated that it can take more of Cairn’s crude if it is given higher quantity of ONGC’s Mumbai High crude for blending with Rajasthan crude.
Benchmarking
Both Cairn and ONGC, as sellers, have agreed on a sellers’ benchmark offer price consisting of a basket of crude oils, whose blend is similar to the Rajasthan crude and which is actively traded in the international oil market and reported in Platts. The refiners are comparing Cairn’s crude with Maya (Mexican crude variety) or Ratawi (neutral zone), currently sold at a substantial discount.
The PSC requires price to be fixed by references to a basket of f.o.b. (free on board) crude adjusted for differences in quality, delivery time, quantity and payment terms.
Cairn urges Ministry to decide fast on nominee refineries
Posted by : HarikrishnanTracked by: 0 Boarder
Cairn India Ltd (CIL) has approached the Petroleum Ministry to take an early call on the refineries it will nominate to lift Rajasthan crude. The company wants a clear picture, so that a decision on the valuation of crude can be taken before the production commences, official sources said.
Cairn, which follows the January-December financial year, is targeting second quarter of 2009 to start commercial production from its Barmer fields in Rajasthan. “Since the price of the crude is to be decided between the Government nominee/nominees and the contractor, it is important to have a clear indication,” sources told Business Line.
production sharing contract
The production sharing contract (PSC) signed with the Union Government stipulates that the parities – the buyers and sellers – should meet six months prior to the commencement of commercial production, to establish an appropriate basket of crude oil to calculate the price.
Cairn India plans to produce 8.25 million tonnes a year of crude at its Barmer oil field. ONGC is a 30 per cent partner in the field.
Official sources said that “discussions on nominee refineries are going on.”
The situation arose since Mangalore Refinery and Petrochemicals Ltd (MRPL), which is the official nominee, has indicated that it can lift only up to 1.2 million tonnes. This has lead to the Government considering having more than one nominee.
While Indian Oil Corporation Ltd has said it can take up to two million tonnes of crude, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation can take up to one million tonnes each.
However, now MRPL has indicated that it can take more of Cairn’s crude if it is given higher quantity of ONGC’s Mumbai High crude for blending with Rajasthan crude.
Benchmarking
Both Cairn and ONGC, as sellers, have agreed on a sellers’ benchmark offer price consisting of a basket of crude oils, whose blend is similar to the Rajasthan crude and which is actively traded in the international oil market and reported in Platts. The refiners are comparing Cairn’s crude with Maya (Mexican crude variety) or Ratawi (neutral zone), currently sold at a substantial discount.
The PSC requires price to be fixed by references to a basket of f.o.b. (free on board) crude adjusted for differences in quality, delivery time, quantity and payment terms.
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Cairn down taget=60....
Posted by : ar_akmTracked by: 0 Boarder
Any news OR special reason for the projected downside much?
...
In reply to:
Cairn down taget=60....
Posted by : marketman
The stock of cairn india may drop to 60 levels in coming sessions....
Cairn down taget=60....
Posted by : marketmanTracked by: 0 Boarder
The stock of cairn india may drop to 60 levels in coming sessions.......
WHY CAIRN INDIA?
Posted by : HarikrishnanTracked by: 1 Boarder
First oil from Mangala on schedule for H2 2009
Rajasthan growing resource base of over 800 mmboe net with growth potential
MBA potential plateau gross production ≥175,000 bopd
EOR for MBA : Potential for plateau extension and enhancement
Pipeline construction commenced
Shifting of delivery point from Barmer to Gujarat coastapproved
Rajasthan development estimated cost for CY 2008 & 2009: $1.8 billion net
Further exploration and growth opportunitiesWell placed for future growth...
BUY CAIRN INDIA BELOW 130 LEVEL
Posted by : HarikrishnanTracked by: 0 Boarder
Harikrishnan. Buy cairn india below 130 level. 2010 traget 750+ .......
Reliance Refinery, Gas Projects May Be Delayed
Posted by : HarikrishnanTracked by: 0 Boarder
Harikrishnan...Reliance Refinery, Gas Projects May Be Delayed.
Industries Ltd. may be forced to miss its deadlines for starting production at its new oil refinery in western India and a gas field off the country`s eastern coast, the Economic Times reported, citing unnamed company officials familiar with the plans.
India`s biggest company by market value may begin production at the refinery and the gas field in January 2009, missing a December deadline, as global fuel demand declines, the newspaper said. Reliance spokesman Paresh Chaudhry didn`t answer calls to his mobile phone before office hours.
The newspaper said an unnamed Reliance spokesman denied that the Mumbai-based company`s gas and refinery projects face delays. Reliance had said on Oct. 8 that its 580,000 barrels-a-day refinery in Gujarat state is expected to start operating by the end of November.
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BUY CAIRN INDIA BELOW 130 LEVEL
Posted by : HarikrishnanTracked by: 0 Boarder
Harikrishnan.Buy cairn india below 130 level....
Cairn may hike price for natural gas from Ravva field
Posted by : going.greatTracked by: 0 Boarder
I am waiting too. But good company...
In reply to:
Cairn may hike price for natural gas from Ravva field
Posted by : anand77
Sir
will the stock price go up.. i have 1000 brought at 237.. when it will reach the 237 level ??
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