Cairn India Limited, the producer of crude from the country’s biggest onshore field in

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Rajasthan, has begun to acquire 4D seismic data in the offshore Ravva oil field, located off the Andhra coast to explore the possibility of finding additional reserves. Two of India’s oldest oil and gas finds, Panna-Mukta-Tapti (PMT) and Ravva are facing threat of reserve depletion.

The 4D technology is being employed to cover more than 280 sq km and compile seismic data of the block. This new-age seismic technology is preferred keeping in mind the complexity and cycle time, said a person close to the development.

The company has taken the initiative to explore sub-surfaces of this matured field in order to establish additional resources. “The 4D seismic is expected to help the operator to identify by-passed oil zones in the block,” said the person. Cairn India, the operator of the block, is confident of the field’s considerable untapped reserve potential and possibility of producing more oil from this block before expiry of its production sharing contract term in 2019.

According to estimates, the new 4D survey would cost the company nearly $25-$30 million. Ravva block has completed 15 years of continuous operations in October. The field has produced more than 220 million barrels of oil; the average gross production in Q2 was 42,008 barrels of oil per day. The Ravva block’s operating cost per barrel is approximately $2 per barrel.

Cairn India has 22.5 per cent operating interest in Ravva joint venture. The other players in the JV include ONGC with 40 per cent; Videocon with 25 per cent and Ravva Oil (Singapore) with 12.5 per cent.

“The field has performed better than expected with higher than forecast production and very low operating costs. In an earlier drilling campaign, three oil and gas discoveries were made adding an additional 3.6 million barrels of oil equivalent (mmboe) best estimate contingent resources,” he said.

In addition, the company is in process of operationalising another sub-sea pipeline at Ravva. The pipelines are expected to solve capacity bottlenecks and aid production in the Andhra block. The upstream firm is also going to develop some reservoirs through drilling campaigns planned over the extended year (2010).

Cairn India scrip at Bombay Stock Exchange closed on Monday at RS 270.60 down 1.35 from Rs 271.95 on the previous trading session.