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Cairn India to drill more appraisal wells at Ravva oil fields

25 May 2012 Evaluate

Cairn India is looking for drilling more appraisal wells to maintain output at the Ravva oil fields in the East Coast. The company is deciding on commercial feasibility of new finds in the Nagayalanka block of Krishna Godavari basin. It has allocated the task of reservoir certification work for the East Coast onshore find to Global petroleum consulting company DeGolyer and McNaughton.

The company aims to have about 550 million barrels at the latest oil find in Krishna Godavari onshore block discovery. It is now concentrating on second successive discovery at Nagayalanka bock in Krishna district of Andhra Pradesh.

Peers
Company Name CMP
ONGC 283.95
Oil India 470.10
Jindal Drilling&Inds 540.15
Deep Industries 476.90
Asian Energy Service 306.05
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