Cairn's operations in Krishna-Godavari Basin comprises interests in three blocks – one onshore and two offshore blocks. Its production operations in the Krishna-Godavari Basin are centred on the Ravva oil and gas field. The field lies off the coast of Andhra Pradesh in eastern India, in water depths of up to 80 metres. Cairn operates the Ravva field with 22.5% interest in the block.
Cairn's other two assets in the Krishna-Godavari Basin include one onshore block - KG-ONN-2003/1 - where Cairn is operator and holds 49% operating interest, and an offshore block - KG-OSN-2009/3 - where Cairn is operator and holds 100% participating interest.
Cairn held a 10% participating interest in KG-DWN-98/2 which has now been divested to JV partner ONGC. Cairn no longer holds any interest in this block.
The initial vision was to develop Ravva as a model oil and gas field in India. As the Ravva JV pioneered development of the Ravva field, the focus was on minimising costs and maintaining volumes through the application of innovative processes and new technology. Ravva has evolved into one of the lowest cost fields globally, profitable even when oil prices ranged from USD 9 to 12 per barrel.
Since inception in 1994, Ravva has produced more than 269 mmbbls of crude and over 337 billion cubic feet of gas representing a 49% recovery rate till FY2015.
Ravva pioneered many operational firsts in India, such as private helicopter licenses, an offshore loading point for crude sales, a helibase at S.Yanam, the US Dollar to Indian Rupee conversion of sales tax, and invoicing in dollars for a product produced in India. The Ravva JV worked closely with the Government to secure various approvals and develop the block in a timely manner.
The Ravva JV's focus continues to be keeping the costs to a minimum while maintaining steady volumes.
The map shows Cairn's assets – one block in Rajasthan, two on the west coast and four on the east coast of India and one in South Africa.