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Cairn India
Cairn India was an Indian oil and gas exploration and production company, headquartered in Gurgaon, India. The company was merged with Vedanta Limited.
In early 1999, Cairn made the first Rajasthan discovery – Guda field, followed by Saraswati in 2001. Mangala was their biggest discovery in 2003, followed by Raageshwari, Bhagyam, Aishwariya, Kaameshwari and GR-F fields in Rajasthan. In 2003, Cairn acquired 100% of the exploration interest and took over as the operator of the block.
In 2007, Cairn India was listed on the National Stock Exchanges. Top 250 Global Energy Company Rankings by Platts, ranked Cairn India for being the World's fastest-growing energy company in 2011. Now the Company plans to invest $3 billion in the next three years in finding more oil and raising output from Rajasthan oilfields.
The company was delisted from the NSE and the BSE on 25 April 2017 following its merger with its parent company Vedanta Limited.
Vedanta Resources initially reached an agreement to acquire 58.8% of Cairn India from Cairn Energy for a total consideration of $8.67 billion in August 2010, with final shareholder approval in December.
While waiting on government approval on its agreement with Cairn Energy, Vedanta acquired an additional 18.5% on the open market including a 10.4% stake from Petronas for $1.5 billion.
The Ravva oil and gas field in the Krishna- Godavari Basin was developed in partnership with Cairn India, ONGC, Videocon and Ravva Oil, under a production sharing contract (PSC) that runs until 2019. Currently, eight unmanned offshore platforms are being operated. A 225-acre onshore processing facility at Surasaniyanam processes natural gas and crude oil from the Ravva field. The Ravva onshore terminal operates to the internationally environmental standard – ISO 14001 – and has the capacity to handle 70,000 barrels (11,000 cubic metres) of oil per day, 95 million ft3 (2.7 million m3) per day at standard conditions of natural gas and 110,000 bbl (17,000 m3) per day of injection water. The terminal also has the capacity to store 1 million bbl (160 thousand m3) of crude oil onshore.
The Ravva field has produced more than 253 million bbl (40.2 million m3) of crude and sold 317 billion ft3 (9.0 billion m3) of gas; about thrice the initial estimates. During the financial year, the plant uptime was 99.7% demonstrating superb operational efficiency. The asset recorded 1.61 million LTI free hours during the year. The offshore production platform at Ravva received the Oil Industry Safety Award for the year 2010–11.
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Cairn India
Cairn India was an Indian oil and gas exploration and production company, headquartered in Gurgaon, India. The company was merged with Vedanta Limited.
In early 1999, Cairn made the first Rajasthan discovery – Guda field, followed by Saraswati in 2001. Mangala was their biggest discovery in 2003, followed by Raageshwari, Bhagyam, Aishwariya, Kaameshwari and GR-F fields in Rajasthan. In 2003, Cairn acquired 100% of the exploration interest and took over as the operator of the block.
In 2007, Cairn India was listed on the National Stock Exchanges. Top 250 Global Energy Company Rankings by Platts, ranked Cairn India for being the World's fastest-growing energy company in 2011. Now the Company plans to invest $3 billion in the next three years in finding more oil and raising output from Rajasthan oilfields.
The company was delisted from the NSE and the BSE on 25 April 2017 following its merger with its parent company Vedanta Limited.
Vedanta Resources initially reached an agreement to acquire 58.8% of Cairn India from Cairn Energy for a total consideration of $8.67 billion in August 2010, with final shareholder approval in December.
While waiting on government approval on its agreement with Cairn Energy, Vedanta acquired an additional 18.5% on the open market including a 10.4% stake from Petronas for $1.5 billion.
The Ravva oil and gas field in the Krishna- Godavari Basin was developed in partnership with Cairn India, ONGC, Videocon and Ravva Oil, under a production sharing contract (PSC) that runs until 2019. Currently, eight unmanned offshore platforms are being operated. A 225-acre onshore processing facility at Surasaniyanam processes natural gas and crude oil from the Ravva field. The Ravva onshore terminal operates to the internationally environmental standard – ISO 14001 – and has the capacity to handle 70,000 barrels (11,000 cubic metres) of oil per day, 95 million ft3 (2.7 million m3) per day at standard conditions of natural gas and 110,000 bbl (17,000 m3) per day of injection water. The terminal also has the capacity to store 1 million bbl (160 thousand m3) of crude oil onshore.
The Ravva field has produced more than 253 million bbl (40.2 million m3) of crude and sold 317 billion ft3 (9.0 billion m3) of gas; about thrice the initial estimates. During the financial year, the plant uptime was 99.7% demonstrating superb operational efficiency. The asset recorded 1.61 million LTI free hours during the year. The offshore production platform at Ravva received the Oil Industry Safety Award for the year 2010–11.