Cairn India is the fourth largest oil and gas exploration and production company in India and has a working interest in 14 blocks. Two of these are currently producing hydrocarbons. Cairn India is focused on creating shareholder value by developing its world class resource base in Rajasthan and seeks to continue with its track record of exploration success. Cairn India’s portfolio is fostered in both mature and frontier areas, as well as in regions and basins where the current data set can be optimised or reinterpreted.
Operations
Cairn India has two processing plants, 11 platforms, 200km of sub-sea pipelines and operations spanning the Indian continent. The company operates the largest producing oil field in the Indian private sector and has pioneered the use of cutting-edge technology to extend production life. Three of the fields – Ravva, Lakshmi and Gauri – are already producing more than 80,000 barrels of oil equivalent per day (boepd) on behalf of Cairn and its joint venture (JV) partners.
In Rajasthan Cairn India has made 23 discoveries including some of the biggest finds in the last two decade.
Cairn India has maintained a low operating cost base through efficient operations. Part of its strategy, the Company’s has focused on life-cycle planning and continuous monitoring and control of operational costs as well as applying innovative operating concepts and technologies.
Cairn India sells its oil to four major refineries across India and its gas to both public and private buyers.
According to production plans, in the third quarter of 2009, output from Mangala fields will begin, which will be transported through trucks. By the fourth quarter, the company expects to increase the crude output to 50,000 barrels a day and transport crude through its pipeline network (from Barmer to Gujarat coast).
Recent News :
MRPL has been appointed as the buyer of the initial crude oil and state-run refiner Indian Oil Corporation (IOC) would take the crude once volumes rise.
Cairn will initially produce 4,000 to 5,000 barrels of oil per day from its fields in Barmer district of Rajasthan which would be transported in trucks to Kandla on Gujarat coast for onward shipment to Mangalore.Output from the Mangala field, the first of the three fields Cairn is putting to production, would rise to 30,000 barrels per day (1.5 million tonnes) in July-September.
The Mangala field is expected to produce 30,000 bpd by the second quarter of 2009-10. Production is then expected to ramp up to 80,000 bpd by the end of 2009 before reaching a plateau of 1,25,000 bpd during H1 of 2010.
Operations
Cairn India has two processing plants, 11 platforms, 200km of sub-sea pipelines and operations spanning the Indian continent. The company operates the largest producing oil field in the Indian private sector and has pioneered the use of cutting-edge technology to extend production life. Three of the fields – Ravva, Lakshmi and Gauri – are already producing more than 80,000 barrels of oil equivalent per day (boepd) on behalf of Cairn and its joint venture (JV) partners.
In Rajasthan Cairn India has made 23 discoveries including some of the biggest finds in the last two decade.
Cairn India has maintained a low operating cost base through efficient operations. Part of its strategy, the Company’s has focused on life-cycle planning and continuous monitoring and control of operational costs as well as applying innovative operating concepts and technologies.
Cairn India sells its oil to four major refineries across India and its gas to both public and private buyers.
According to production plans, in the third quarter of 2009, output from Mangala fields will begin, which will be transported through trucks. By the fourth quarter, the company expects to increase the crude output to 50,000 barrels a day and transport crude through its pipeline network (from Barmer to Gujarat coast).
Recent News :
MRPL has been appointed as the buyer of the initial crude oil and state-run refiner Indian Oil Corporation (IOC) would take the crude once volumes rise.
Cairn will initially produce 4,000 to 5,000 barrels of oil per day from its fields in Barmer district of Rajasthan which would be transported in trucks to Kandla on Gujarat coast for onward shipment to Mangalore.Output from the Mangala field, the first of the three fields Cairn is putting to production, would rise to 30,000 barrels per day (1.5 million tonnes) in July-September.
The Mangala field is expected to produce 30,000 bpd by the second quarter of 2009-10. Production is then expected to ramp up to 80,000 bpd by the end of 2009 before reaching a plateau of 1,25,000 bpd during H1 of 2010.
Besides 1,25,000 bpd of Mangala, the adjacent Bhagyam field would produce 40,000 bpd and Aishwariya another 20,000 bpd. The peak of 1,75,000 bpd would be reached in 2011. Cairn is investing $850 million in a processing facility and another $940 million in a heated oil pipeline from the fields to the port of Viramgam in Gujarat.
Cairn India, the subsidiary of UK-based Cairn Energy, holds a 70% stake and is the operator of the Rajasthan block. ONGC is its partner with a 30% stake.
Financials :
Cairn India Ltd reported a consolidated net profit of Rs236.42 crore in the quarter ended 31 December 2008 as compared to a loss of Rs13.91 crore in the year-ago period.The net profit included one-time reversal of deferred tax liability amounting to Rs123.60 crore.
The consolidated profit before tax for the fourth quarter of 2008 was Rs169.37 crore as opposed to Rs20.52 crore in the October-December quarter of 2007.
2009 Year HIGH 201
2009 Year LOW 142
Cairn India, the subsidiary of UK-based Cairn Energy, holds a 70% stake and is the operator of the Rajasthan block. ONGC is its partner with a 30% stake.
Financials :
Cairn India Ltd reported a consolidated net profit of Rs236.42 crore in the quarter ended 31 December 2008 as compared to a loss of Rs13.91 crore in the year-ago period.The net profit included one-time reversal of deferred tax liability amounting to Rs123.60 crore.
The consolidated profit before tax for the fourth quarter of 2008 was Rs169.37 crore as opposed to Rs20.52 crore in the October-December quarter of 2007.
2009 Year HIGH 201
2009 Year LOW 142
CMP : 199
Investors having long term view can invest in this stock on dips (150-170) for a good return in the medium term.
Investors having long term view can invest in this stock on dips (150-170) for a good return in the medium term.
