Project Description
On 28th October 1994, RAVVA Consortium signed the Production
Sharing Contract, with Government of India. The Consortium
Members comprise of Videocon Industries Limited (formerly:
Videocon Petroleum Limited), with a 25% Participating
Interest, with Command Petroleum Pty Ltd., of Australia,
with a 22.5% Participating Interest (presently its successor
is Cairn Energy of UK) as Operator, Marubeni Corporation
of Japan, with a 12.5% Participating Interest and the
Oil & Natural Gas Corporation Ltd., with a 40% Participating
Interest, to develop and further explore the RAVVA Oil
and Gas Field, spread over 330 sq. kms. in the Bay of
Bengal, off the coast of Andhra Pradesh.
The field produces approximately 18 million barrels
of crude oil and despatches 1,000 million cubic metres
of gas annually. The oil is transported by tankers of
60,000 tons DWT from the SPM of the project to HPCL
Refinery at Vishakapatnam and BRPL Refinery at Assam,
approximately three-four tanker loads a month. The gas
is pumped into the GAIL Trunk Pipe-line. The project
avails of the port facilities at Vizag and Kakinada.
Uses Pilots and Tug for mooring and holding the tankers
during loading of oil. Employs Production Support Vessel
and Oil Spill Contingency Plan Vessel to assist in offshore
production operations, monitoring and maintenance of
offline installations and sub-sea pipe-lines. Employs
helicopter for transportation of men and equipment to
offshore installations and to meet emergencies. During
drilling phase, additional offshore supply vessels provide
necessary support.
So far the cumulative oil production exceeds 150 million
barrels and gas production exceeds 4200 million cubic
metres.
The remaining reserves of the field is approximately
140 million barrels of recoverable oil and gas equivalent.
The cumulative revenue of the consortium since inception
for the crude oil sales is more than USD 4,150 million
and for gas is more than USD 650 million, of which Videocon’s
share is 25% proportionate to participating interest.
Summary of Project Experience:
The RAVVA Joint Venture operations are carried out by
the “Operator” in accordance with Policies,
Work Programmes and Budgets approved, under the provisions
of Production Sharing Contract (PSC) and the Joint Operating
Agreement (JOA). The Operating Committee, of which Videocon
Petroleum is a Member, supervises and directs all operations,
approves Plans of Work & Budgets and monitors progress
of all operational activities. Apart from the Operating
Committee, there is the Management Committee with representatives
from each Joint Venture Party and Representative of
Government of India, Ministry of Petroleum & Natural
Gas: Director General of Hydrocarbons (DGH). The Management
Committee approves all Policy matters, Work Programmes,
Budgets and decisions that are proposed by the Operating
Committee for the Development, Production Operations
and Exploration activities.
 Back to top
|
|
|
Designed & Maintained by ){kind=link}