CAIRN INDIA LIMITED Q2 | Q1 | H1 | |||||
Particulars | FY2016 | FY2015 | % change YoY | FY2016 | FY2016 | FY2015 | % change YoY |
OIL AND GAS (boepd) | |||||||
Average Daily Total Gross Operated Production* | 214,247 | 204,128 | 5% | 217,935 | 216,081 | 215,301 | - |
Average Daily Gross Operated Production (boepd) | 205,361 | 194,508 | 6% | 209,738 | 207,538 | 206,125 | 1% |
Rajasthan | 168,126 | 163,262 | 3% | 172,224 | 170,164 | 173,158 | -2% |
Ravva | 26,064 | 20,596 | 27% | 28,556 | 27,303 | 22,259 | 23% |
Cambay | 11,172 | 10,651 | 5% | 8,958 | 10,071 | 10,708 | -6% |
Average Daily Gross Working Interest Production (boepd) | 128,021 | 123,178 | 4% | 130,565 | 129,286 | 130,502 | -1% |
Rajasthan | 117,688 | 114,283 | 3% | 120,557 | 119,115 | 121,211 | -2% |
Ravva | 5,864 | 4,634 | 27% | 6,425 | 6,143 | 5,008 | 23% |
Cambay | 4,469 | 4,260 | 5% | 3,583 | 4,028 | 4,283 | -6% |
Total Production (million boe) | |||||||
Oil & Gas- Gross Operated | 18.89 | 17.89 | 6% | 19.09 | 37.98 | 37.72 | 1% |
Oil & Gas-Working Interest | 11.78 | 11.33 | 4% | 11.88 | 23.66 | 23.88 | -1% |
*Includes Internal Gas Consumption
Average gross production for H1 FY16 was at 207,538 barrels of oil equivalent per day (boepd), slightly up by 1% year-on-year (y-o-y). The increase in production was mainly driven by consistent performance of offshore assets - Ravva and Cambay, through effective reservoir management practices and better than expected results from Ravva infill drilling campaign.
In Q2 FY16, average gross operated production and working interest production were up 6% and 4% y-o-y at 205,361 boepd and 128,021 boepd, respectively. Production at Rajasthan was up 3% y-o-y at 168,126 boepd, primarily driven by inline reservoir performance in Mangala and production from additional infill wells in the Aishwariya field. At Mangala EOR, the injection ramp up plan is on track and work on the drilling and surface facilities work is ongoing. Gross production from DA1 and DA2 averaged at 147,443 boepd and 20,683 boepd, respectively.
In Q2 FY16, gas production from the RDG field increased to an average rate of 30 mmscfd from 19 mmscfd in Q1 FY16, recording a peak production of 34 mmscfd. This was largely on account of optimization of existing infrastructure.
Both the offshore assets registered a gross average production of 37,235 boepd, an increase of 19% y-o-y. Production at Ravva grew 27% y-o-y to 26,064 boepd due to consistently higher gas production, effective infill drilling campaign and prudent reservoir management. Cambay saw a production growth of 5% y-o-y, driven by effective reservoir management practices including well intervention campaign undertaken in the last quarter.
Arun Arora, Chief Communication Officer
+91 124 4593039; +91 8826999270; cilmedia@cairnindia.com; spokesperson@cairnindia.com
Dheeraj Agarwal
+91 124 4593409; +91 9769732150; cilir@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.
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