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Old November 17th, 2013, 08:27 PM   #41
dramirez
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Old January 24th, 2014, 03:35 PM   #42
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Apparently only two companies have bid for the blocks in the second licensing round; one of them being Cairn.

Cairn India Ltd. is poised to make history in Sri Lanka with first production from the country's offshore gas fields starting as early as 2016. The oil and gas industry is watching this development with interest as Sri Lanka prepares for the commencement of indigenous gas production. Upstream companies are also looking at potential offshore hydrocarbon prospects which would be offered in the first quarter of next year.

Cairn, until now more focused on producing from onshore fields in India, said it was engaging Sri Lankan authority on appraisal planning and commercial discussion relating to its first two offshore discoveries – the Dorado and Barracuda fields in the Mannar Basin.

“We continue to engage in appraisal planning and commercial discussions with the Sri Lankan government for monetizing the discovered gas resources and have recently secured an extension to the current exploration phase to April 2014,” said Karunakaran Hari, head of commercial, based in the company’s Gurgaon office in India.

“In the wake of Cairn’s success in the Mannar Basin, the Sri Lankan Government is currently conducting a bid round for other exploration blocks in the surrounding area,” he said.

DRILLING SUCCESS IN SRI LANKA
In 2007, Cairn took one of the three blocks under Sri Lanka’s first round of concession offer, and made the Dorado and Barracuda discoveries.

Cairn broke ground in Sri Lanka with two gas discoveries out of the four exploration wells drilled under phase 1 and 2 in its concession.

The gross proved and probable hydrocarbons initially in place in the Sri Lanka block was 74 million barrels of oil equivalent (MMboe) as at March 31, according to Cairn. The Dorado discovery is up for development with first gas officially expected in 2017-18 while Barracuda is being further assessed. But industry observers expected Dorado gas in 2016, with the field set to become a benchmark for future hydrocarbon developments amid intense competition for investments from other prolific basins in the region.


Sri Lanka’s Petroleum Resources Development Secretariat (PDRS) hoped that a second round of offers for upstream exploration blocks would be successful, with the organization banking on the high potential shown in Mannar basin discoveries and the prolific hydrocarbon plays in the region, especially the Bay of Bengal.

PRDS planned to lease out 13 blocks in the first quarter of next year. The challenge is drafting contracts for the blocks and building seismic data on the resources. Except for Cairn’s Dorado and Barracuda, Sri Lanka has no other proven hydrocarbon deposits and is fully dependent on imported petroleum supplies.

A subsea pipeline is one of the preferred development options for Dorado gas, which would be supplied to an onshore power plant. While Dorado gas is in an early stage of development and project details are being kept confidential, the Sri Lankan government has indicated it want to make it a model development with a captive power sector market.

Gas pricing would be a critical issue, given the big gap in international prices, especially with the U.S. gas being cheapest and Australian gas the most costly.

“Commercialization of domestic gas discoveries is likely to overhaul and transform the energy mix of the country,” Hari.

“The Mannar basin is a rifted passive margin with Mesozoic to recent sediments up to 7.5 miles (12 kilometers) in thickness. A range of structures, stratigraphic traps, and good reservoirs are known to exist in the Basin,” he said.

“Cairn’s discoveries de-risked any doubts of a viable petroleum system. Cairn feels confident that there is significant remaining hydrocarbon potential to pursue in the area – both for gas and liquid hydrocarbons,” he stressed.


Additionally, Cairn continues to look at the options and would study prospects of other blocks offered before deciding on the bidding.

CAIRN LOOKS BEYOND SRI LANKA
Cairn has also been working in Block 1 off South Africa.

“We have completed the 3D seismic and the data interpretation is on-going. The results of data interpretation will identify new prospects and decide on the timing for drilling,” Hari told Rigzone.

It has also planned 2D Seismic shooting in Block 1 next year.

Cairn took 60 percent farm-in stake in Block 1 from Petroleum, Oil and Gas Corporation of South Africa (SOC) Ltd. (PetroSA), leaving it with 40 percent share.

“With our current financial strength and capability to leverage, we continue to look into the inorganic growth opportunities globally in the E&P [exploration and production] space to further strengthen our portfolio in addition to monetizing the existing portfolio,” he said.

Cairn has planned a capital expenditure of $3 billion for its financial year 2014-2016.


Cairn currently has a portfolio of 9 onshore and offshore assets spread across frontier to mature basin in India, Sri Lanka and South Africa.

“We continue to work on our current portfolio to ramp up our current production levels and exploration,” stressed Hari.

The company continues to have an aggressive exploration program with capital expenditure allocated for the Rajasthan onshore block and other upstream assets.

Cairn is ramping up oil and gas production in India to 225,000 barrels per day in the current fiscal year, 19 percent up on the year. Rajasthan’s MBA field would account for 200,000 barrels per day.

This ambitious drive has made Cairn one of Asia’s fastest growing E&P companies in this year’s annual top 250 oil and gas awards given in Singapore by Platts, an international energy and commodity pricing and market analysis service provider.

In South Asia, Sri Lanka is set to become second most important market for Cairn. Oil importer Sri Lanka is a ready market. It imports 90,000 barrels per day of crude oil and petroleum products while its domestic market is dependent on liquefied petroleum gas (LPG).

But there would be a major change in the market and the domestic energy mix as Sri Lanka embarks on developing natural gas infrastructure. Plans were on the drawing boards while international exploration companies were expected to invest extensively on seismic surveys to determine hydrocarbon potential around the island.


The offshore blocks would be offered on attractive contractual terms, PRDS Director General Saliya Wickramasuriya said at the recent Asian Oil Week conference in Singapore.

Conceding that there was “very little data” on the offshore blocks, a number of options were however being considered such as leasing of at least two blocks on joint study basis, he added. Industry sources has compared Sri Lankan blocks to many other hydrocarbon producing basins in the region, including India’s oil and gas producing Cauvery basin.

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Old March 27th, 2014, 01:33 PM   #43
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good news

Exploiting Natural Gas Bonanza: Let us get it ‘Right this Time Around’
Pathfinder Energy Alert
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The Pathfinder Foundation’s (PF) previous Energy Alert (published in the Business Times) concluded that the key challenge for Sri Lanka’s energy security was to reduce its dependence on imported oil while containing energy costs in the economy. These twin objectives can best be achieved by maximising the benefits from the natural gas discoveries in the Mannar basin.

Cairns (Lanka) has discovered commercial quantities of natural gas deposits in two locations in the Mannar basin. One contains potentially in excess of 2 Trillion Cubic Feet (TCF) of natural gas, while the other has 300 Billion Cubic Feet (BCF). High priority should now be given to proactive measures to take advantage of these discoveries. The mistakes of the past should not be repeated. The inordinate delay in bringing coal-powered generating capacity on stream more than 20 years ago when coal was much cheaper has cost the country very dearly. Access to cheaper coal at that time would also have meant more money would have been available for measures to mitigate the carbon imprint. Let us get it right this time around.

It is important to examine the benefits and challenges associated with these natural gas discoveries. This article draws from a presentation made by Dr. Janaka Rathnasiri (former Chief Technical Advisor, Ministry of Environment). The following are some of the benefits that can be generated from them.
http://www.sundaytimes.lk/140323/bus...und-89671.html
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Old March 27th, 2014, 01:43 PM   #44
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Originally Posted by pathum1986 View Post
Exploiting Natural Gas Bonanza: Let us get it ‘Right this Time Around’
Pathfinder Energy Alert
View(s):

The Pathfinder Foundation’s (PF) previous Energy Alert (published in the Business Times) concluded that the key challenge for Sri Lanka’s energy security was to reduce its dependence on imported oil while containing energy costs in the economy. These twin objectives can best be achieved by maximising the benefits from the natural gas discoveries in the Mannar basin.

Cairns (Lanka) has discovered commercial quantities of natural gas deposits in two locations in the Mannar basin. One contains potentially in excess of 2 Trillion Cubic Feet (TCF) of natural gas, while the other has 300 Billion Cubic Feet (BCF). High priority should now be given to proactive measures to take advantage of these discoveries. The mistakes of the past should not be repeated. The inordinate delay in bringing coal-powered generating capacity on stream more than 20 years ago when coal was much cheaper has cost the country very dearly. Access to cheaper coal at that time would also have meant more money would have been available for measures to mitigate the carbon imprint. Let us get it right this time around.

It is important to examine the benefits and challenges associated with these natural gas discoveries. This article draws from a presentation made by Dr. Janaka Rathnasiri (former Chief Technical Advisor, Ministry of Environment). The following are some of the benefits that can be generated from them.
http://www.sundaytimes.lk/140323/bus...und-89671.html
I wouldn't trust these 'indian' estimates, one things these Indians lack is a sense of reality. Their is a big difference between the amount of gas in place and the among of recoverable reserves.
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Old March 27th, 2014, 08:06 PM   #45
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Originally Posted by Rajasinha View Post
I wouldn't trust these 'indian' estimates, one things these Indians lack is a sense of reality. Their is a big difference between the amount of gas in place and the among of recoverable reserves.
When it comes to gas recovery factors in conventional rocks it can be upto 95%, so that difference may not be that much.

The range in uncertainty in the original in place volumes at this stage is probably a bigger factor.

It has nothing to do with "Indians". Better companies than Cairn from all spectrums of the world have got it wrong in the past.
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Old March 28th, 2014, 06:08 AM   #46
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When it comes to gas recovery factors in conventional rocks it can be upto 95%, so that difference may not be that much.

The range in uncertainty in the original in place volumes at this stage is probably a bigger factor.

It has nothing to do with "Indians". Better companies than Cairn from all spectrums of the world have got it wrong in the past.
In any case, the global abundance of natural gas is enough reason to switch every industry we can to natural gas. It should ensure future price stability.
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Old March 28th, 2014, 10:21 AM   #47
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In any case, the global abundance of natural gas is enough reason to switch every industry we can to natural gas. It should ensure future price stability.
Well, in my openion we should start developing Solar Energy. We dont have many industries that are energy dependent. We will have to focus on developing future industries based on electricity (hence ability to move to Solar). Considering the price reduction on solar cell we experianced in the last 5 years, it will be cheaper to develop new houses with Solar panel roofs.
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Old March 28th, 2014, 12:58 PM   #48
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Well, in my openion we should start developing Solar Energy. We dont have many industries that are energy dependent. We will have to focus on developing future industries based on electricity (hence ability to move to Solar). Considering the price reduction on solar cell we experianced in the last 5 years, it will be cheaper to develop new houses with Solar panel roofs.
I believe we are. I think they finished the first phase last year for the Hambantota Solar Power Station (http://en.wikipedia.org/wiki/Hambant..._Power_Station)
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Old March 29th, 2014, 05:02 AM   #49
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I believe we are. I think they finished the first phase last year for the Hambantota Solar Power Station (http://en.wikipedia.org/wiki/Hambant..._Power_Station)
I also think improve solar power is very important to SL.bcoz we have 365 days sunshine.Its bit more cost than oil to install it bt world is developing that industry(more power low cost).I hope we can join them too
Bt we should find our oil and gas stocks at mannar sea.We should invite US,UAE, and Russian company(not only china and India) to invest in this before world switch in to electric vehicles.( few days ago vehicle importers ask gov for tax breaks to hybrid and electric vehicles and charging places at CYPETCO sheds.I think if we attract more US investmant here.that will stop US try to isolate us..
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Old March 29th, 2014, 06:01 AM   #50
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I believe we are. I think they finished the first phase last year for the Hambantota Solar Power Station (http://en.wikipedia.org/wiki/Hambant..._Power_Station)
Power an incredible 0.042% of SL electricity demand. while Costing a mere 1.8 Billion Rs.
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Old March 29th, 2014, 12:58 PM   #51
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Quote:
Originally Posted by Rajasinha View Post
I wouldn't trust these 'indian' estimates, one things these Indians lack is a sense of reality.
plz explain "these Indians lack is a sense of reality" .


Quote:
Originally Posted by Rajasinha View Post
Their is a big difference between the amount of gas in place and the among of recoverable reserves.
this is common fact about gas and oil reserves worldwide. . do you really think that Indian do not know this.

Last edited by RiSHi; March 29th, 2014 at 01:34 PM.
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Old March 29th, 2014, 08:49 PM   #52
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Originally Posted by RiSHi View Post
plz explain "these Indians lack is a sense of reality" .




this is common fact about gas and oil reserves worldwide. . do you really think that Indian do not know this.
Please ignore this guy Rajasinha. His mental status has stopped few years ago. As a result he thinks and acts like minor. Take his views lightly. Their is a BIG gulf between his views and Sri Lankan view.

Lets create a fund to help this Rajasinha guy to buy his medicine. After all he is a human too.
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Old March 30th, 2014, 02:25 AM   #53
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Please ignore this guy Rajasinha. His mental status has stopped few years ago. As a result he thinks and acts like minor. Take his views lightly. Their is a BIG gulf between his views and Sri Lankan view.

Lets create a fund to help this Rajasinha guy to buy his medicine. After all he is a human too.
Everybody in this forum knows your ulterior political motives.
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Old March 30th, 2014, 05:05 AM   #54
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Quote:
Originally Posted by RiSHi View Post
plz explain "these Indians lack is a sense of reality" .




this is common fact about gas and oil reserves worldwide. . do you really think that Indian do not know this.
Rishi please heed the advice from our moderator:

http://www.skyscrapercity.com/showpo...&postcount=561

I don't particularly agree with Raj but you seem like you always want to try to start a fight with Lankans in our own forum. If you dont like an opinion please ignore it like the rest of us.
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Last edited by lordvader; March 30th, 2014 at 05:15 AM.
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Old April 10th, 2014, 01:19 PM   #55
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Cairn are reportedly looking for partners in Block 2, where they discovered the Dorado and Barracuda fields.

I read into this that there is some risk in the venture and they want to mitigate the impact to their business by diluting their equity.
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