Cairn India’s Offshore Crisis (Business Opportunities - Marketing & Sales)
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Cairn India’s Offshore Crisis | |
Cairn India’s Offshore Crisis: The Force Majeure Dispute and the Fate of Great drill Chetna The CB-OS/2 Block: A Vital Asset Facing Decline The CB-OS/2 offshore block in the Cambay Basin, Gujarat, has been producing oil since 2002 and is jointly owned by Vedanta (40%, operator), ONGC (50%), and In venire Energy (10%). Production has been declining sharply, falling from 13,308 barrels per day in early 2024 to 7,557 barrels per day by the end of the year. To reverse this decline, Cairn India announced a Rs 4,246 crore ($509 million) investment in 2024 to: Drill 45 new wells. Install two additional offshore platforms. Set up a Floating Production Storage and Offloading (FPSO) facility. As part of this plan, Cairn had initiated a three-well exploratory drilling program, which included Great drill Chetna as the primary drilling rig. #ONGC #Indianpetroplus | |
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| Target State: All States Target City : All Cities Last Update : Feb 05, 2025 7:26 AM Number of Views: 31 | Item Owner : Indianpetroplus Contact Email: Contact Phone: (None) |
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2025-02-22 (0.386 sec)