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Cairn India Q4 output down 6% YoY

Cairn India said its gross production of oil and gas across all assets rose 2% to 184,585 barrels of oil equivalent per day (boepd) in the Jan-March quarter compared to the preceding quarter, but declined 6.3% on year.

Gross production from Rajasthan block averaged at 157,338 boepd for the quarter.

With this, the average gross production declined by 7% in financial year 2016-17.

This was “due to natural decline in the fields” and planned maintenance shutdown in Rajasthan during the current year, it said.

Production at Rajasthan declined 5% due to reservoir underperformance at Bhagyam and Aishwariya partly offset by the volume ramp up from the Mangala enhanced oil recovery project and effective reservoir management across fields.

Q4 RESULTS

Encouraging results from the Mangala Enhanced Oil Recovery (EOR) program and production optimization activities helped offset the natural decline, the company said.

Gas production from Rageshwari Deep Gas field or RDG was maintained at an average of 21 mmscfd in O4 FY2017 with average sales at 4 mmscfd.

“The technical issue between the transporter and the gas buyers has been resolved during the quarter and the gas sales have currently been normalised,” the company said.

The Ravva block produced at an average rate of 17,769 boepd for the quarter.

Coil tubing and acid stimulation campaign executed during the current quarter helped offset the natural decline, the Vedanta Resources company said. Uptime was 99.8% in O4.

The Cambay block production was largely stable at 9,477 boepd for the quarter. Effective reservoir management practices and production optimization measures helped arrest the natural decline, the producer said.

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