Cairn Energy's $66.43m budget for Ravva E&P
EDINBURGH-BASED CAIRN Energy is the best-known private oil and gas explorer in India, notably because of a string of exploration successes on the east and west coasts and the smooth running of its Ravva joint venture.
Hardly surprising then that oilfield service companies would do anything to know Cairn's work programme at Ravva for the next financial year beginning 1st April. PETROWATCH can reveal it.
How A 28-page work programme and proposed budget is circulating with the Ravva joint venture partners ONGC, Videocon Petroleum and (Marubeni-owned) Ravva Oil, based in Singapore, as well as in the office of the Directorate General of Hydrocarbons. Cairns total budget is $66.43m for 2002-03.
We understand $9.1m is set aside for exploration activities in the 'to mature' and 'firm categories'; $13.3m is for development activities in other categories, adding up to $22.43m; while $44.97m is earmarked for production activities. Included in this budget is infrastructure spending earmarked for the Ravva Satellite Gas Field Development Project.
A lump sum estimate has also been included to represent Cairn'smanpower and administrative costs. Apparently these costs are the subject of a dispute with the Management Committee, which oversees operations at Ravva, and are being looked at by several "sub-committees." For a snapshot of Cairn's objectives at Ravva in 2002-03, read on.
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