CERAWeek: Cairn signs agreement aimed at advancing deepwater exploration in India

Cairn Oil & Gas, part of Vedanta Ltd. and India’s largest private oil and gas exploration and production company, has entered an alliance with TechnipFMC plc related to delivery of integrated subsea infrastructure for future deepwater projects in India. 

The collaboration, signed at the CERAWeek by S&P Global conference in Houston, will utilize TechnipFMC’s integrated engineering, procurement, construction, and installation (EPCI) execution model, as well as use of integrated front-end engineering and design, the company said in a release Mar. 12. 

Cairn currently contributes about 25% of India’s domestic crude oil production with an aim to double production. No timeframe was given. 

Hitesh Vaid, chief financial officer of Cairn Oil & Gas, said the collaboration “is a pivotal step in realizing our deepwater goals.” 

Cairn has over 4,500 sq km of offshore deep water block in the Krishna Godavari (KG) basin in the east coast with water depths of 500-2,500 m. The block currently has four gas discoveries, 2,000 sq km covered with 3D seismic, and four prospects identified with resources potential of 5 tcf, which are yet to be drilled, the company said.