{"id":299861,"date":"2019-11-07T11:29:32","date_gmt":"2019-11-07T05:59:32","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=299861"},"modified":"2019-11-07T11:29:32","modified_gmt":"2019-11-07T05:59:32","slug":"cairn-gets-10-year-extension-for-ravva-oil-gas-field","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/cairn-gets-10-year-extension-for-ravva-oil-gas-field\/","title":{"rendered":"Cairn gets 10 year extension for Ravva oil, gas field"},"content":{"rendered":"<p>Cairn Oil and Gas, a Vedanta group firm, has secured a 10-year extension of the contract for its Ravva oil and gas fields off the Andhra Pradesh coast, the company said on Wednesday. \u201cWith this extension, the production sharing contract (PSC) is now valid effective October 28, 2019, for the next 10 years,\u201d the company said in a statement. Ravva, the oldest producing asset for Cairn in India, becomes the first large field to get PSC extension under the \u2018Policy for the Grant of Extension to the Production Sharing Contracts signed by Government in awarding small, medium-sized, and discovered fields to private Joint Ventures\u2019 two-and-a-half-decades ago.<\/p>\n<p>\u201cThe extension will enable the joint venture partners to recover about 13 million barrels of oil equivalent (boe) of oil. In addition, the JV partners will invest Rs 550 crore (USD 78 million) to drill seven Revised Field Development Plan (RFDP) wells targeting additional reserves of 11.7 million boe,\u201d the statement. \u201cThese campaigns put the JV on course for yet another milestone in hydrocarbon recovery from this world-class offshore asset.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cairn Oil and Gas, a Vedanta group firm, has secured a 10-year extension of the contract for its Ravva oil and gas fields off the Andhra Pradesh coast, the company said on Wednesday. \u201cWith this extension, the production sharing contract (PSC) is now valid effective October 28, 2019, for the next 10 years,\u201d the company said in a statement. Ravva, the oldest producing asset for Cairn in India, becomes the first large field to get PSC extension under the \u2018Policy for the Grant of Extension to the Production Sharing Contracts signed by Government in awarding small, medium-sized, and discovered fields [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-299861","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/299861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=299861"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/299861\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=299861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=299861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=299861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}