CAIRN INDIA LIMITED CIN: L11101MH2006PLC163934
Regd. Office address: 101, First Floor, C Wing, Business Square, Andheri Kurla Road, Andheri (E), Mumbai - 400 059
Telephone: +91 22 40902613, Facsimile: +91 22 40902633, Website: http://www.cairnindia.com/www.cairnindia.com
4th Floor | Vipul Plaza | Suncity | Sector 54 | Gurgaon |India - 122 002
T: +91 124 459 3000, F: +91 124 288 9320
For Immediate Release 10th October, 2014 Cairn India Limited Production Update for the Second Quarter and Half Year FY 2014-15Q2 | Q1 | H1 | |||||
Particulars | FY2015 | FY2014 | % change YoY | FY2015 | FY2015 | FY2014 | % change YoY |
OIL AND GAS | |||||||
Average Daily Total Gross Operated Production (boepd) - including internal gas consumption | 204,128 | 221,190 | (8%) | 226,597 | 215,301 | 220,884 | (3%) |
Average Daily Gross Operated Production (boepd) | 194,508 | 213,299 | (9%) | 217,869 | 206,125 | 212,873 | (3%) |
Rajasthan | 163,262 | 175,478 | (7%) | 183,164 | 173,158 | 174,503 | (1%) |
Ravva | 20,596 | 29,151 | (29%) | 23,940 | 22,259 | 28,704 | (22%) |
Cambay | 10,651 | 8,671 | 23% | 10,765 | 10,708 | 9,666 | 11% |
Average Daily Working Interest Production (boepd) | 123,178 | 132,862 | (7%) | 137,907 | 130,502 | 132,477 | (1%) |
Rajasthan | 114,283 | 122,835 | (7%) | 128,215 | 121,211 | 122,152 | (1%) |
Ravva | 4,634 | 6,559 | (29%) | 5,386 | 5,008 | 6,458 | (22%) |
Cambay | 4,260 | 3,468 | 23% | 4,306 | 4,283 | 3,866 | 11% |
Total Oil and Gas Production (million boe) | |||||||
Oil & Gas- Gross | 17.89 | 19.62 | (9%) | 19.83 | 37.72 | 38.96 | (3%) |
Oil & Gas-Working Interest | 11.33 | 12.22 | (7%) | 12.55 | 23.88 | 24.24 | (1%) |
Average gross production for H1 FY2015 was 206,125 barrels of oil equivalent per day (boepd), 3% lower than the previous year due to the planned maintenance shutdown at the Rajasthan facilities and a suspension of gas sales at the Ravva block, partially offset by higher production at the Cambay block.
In Q2 FY2015, average gross operated production and working interest production were 9% and 7% lower year on year (yoy) at 194,508 boepd and 123,178 boepd, respectively. At Rajasthan, we successfully completed the planned shutdown announced in Q1, for routine operational and statutory maintenance activity at the Mangala Processing Terminal, which resulted in lower production of 163,262 boepd, with Development Area (DA)-1 and DA-2 producing gross averages of 134,539 boepd and 28,723 boepd respectively. We are back to normal production levels at Rajasthan after the shutdown; excluding the shutdown period, Q2 production was comparable to Q1. We also utilized this opportunity to tie-in new facility enhancements related to development projects.
At Ravva, gas sales have been suspended since 4 July 2014 on account of one of the customers undertaking a major unplanned maintenance activity within their Andhra Pradesh pipeline network. Hence, production at Ravva was lower at 20,596 boepd during the quarter despite a positive oil contribution from the 4D infill well campaign.
At Cambay, production increased by 23% yoy at 10,651 boepd during Q2 on account of successful well intervention measures undertaken in the previous quarter.
Page 1 of 2
CIN: L11101MH2006PLC163934
Regd. Office address: 101, First Floor, C Wing, Business Square, Andheri Kurla Road, Andheri (E), Mumbai - 400 059
Telephone: +91 22 40902613, Facsimile: +91 22 40902633, Website: http://www.cairnindia.com/www.cairnindia.com
4th Floor | Vipul Plaza | Suncity | Sector 54 | Gurgaon |India - 122 002
T: +91 124 459 3000, F: +91 124 288 9320
For further details, please contact:Media Relations
Neerja Sharma, Director - Assurance, Communication and Company Secretary
+91 124 4593169; +91 9717098035; mailto:cilmedia@cairnindia.comcilmedia@cairnindia.com; spokesperson@cairnindia.com
Investor Relations
Nidhi Aggarwal, Head - Investor Relations
+91 124 4593490; +91 9810197755; mailto:cilir@cairnindia.comcilir@cairnindia.com
Disclaimer
This material contains forward-looking statements regarding Cairn India and its affiliates, our corporate plans, future financial condition, future results of operations, future business plans and strategies. All such forward- looking statements are based on our management's assumptions and beliefs in the light of information available to them at this time. These forward-looking statements are by their nature subject to significant risks and uncertainties; and actual results, performance and achievements may be materially different from those expressed in such statements. Factors that may cause actual results, performance or achievements to differ from expectations include, but are not limited to, regulatory changes, future levels of industry product supply, demand and pricing, weather and weather related impacts, wars and acts of terrorism, development and use of technology, acts of competitors and other changes to business conditions. Cairn India undertakes no obligation to revise any such forward-looking statements to reflect any changes in Cairn India's expectations with regard thereto or any change in circumstances or events after the date hereof. Unless otherwise stated the reserves and resource numbers within this document represent the views of Cairn India and do not represent the views of any other party, including the Government of India, the Directorate General of Hydrocarbons or any of Cairn India's joint
venture partner.
Page 2 of 2
|
distributed by
|
