Hercules 208 to drill for Cairn at Ravva

Vol 17, PW 5 (03 Oct 13) News in Brief

Cantilever jack-up Hercules 208 will soon be drilling eight wells at Cairn's east coast Ravva oil and gasfield.

The Hercules Offshore-owned mat supported rig, which can drill up to 20,000 feet (6096 metres) in water depths of 200 feet (61 metres), should reach India by end-December to begin drilling four new wells in addition to three sidetrack wells and one workover well. Cairn has hired Hercules 208 at $100,000/day and will pay $2.5m for mobilisation and de-mobilisation costs.

Cairn believes the eight wells, in water depths of seven to 30 metres, can be drilled in around 250 days. Cairn wants to begin drilling on January 14 and complete it on June 11.

Five wells will be drilled from Cairn’s RC platform, two from RE platform and one from the RF platform. Cairn believes Ravva holds 4.3m barrels of oil and 20bn cubic feet (600m cm) of gas.

Cairn 22.5% shares Ravva with ONGC 40%, Videocon Petroleum 25% and Ravva Oil 12.5%.