This alliance positions Cairn to rapidly advance its deepwater exploration ambitions, tapping into TechnipFMC’s extensive expertise and cutting-edge technologies. The agreement also incorporates the use of integrated Front-End Engineering and Design (iFEED™), where early engagement optimizes project performance utilizing TechnipFMC’s Subsea Production Systems (SPS) and Subsea Umbilicals, Risers, and Flowlines (SURF) work scopes.
As a key player in India’s energy landscape, Cairn currently contributes ~25% of the nation’s domestic crude oil production and has a bold vision to double this, securing India’s energy future through responsible and sustainable practices.
The agreement was signed in the presence of Vedanta Chairman, Mr. Anil Agarwal, at the CERAWeek by S&P Global energy conference, happening this week in Houston, Texas.
“This collaboration is a pivotal step in realizing our deepwater goals," said Hitesh Vaid, CFO of Cairn Oil & Gas. "TechnipFMC’s expertise is a perfect match for our ambitions, and together we will push forward at the pace required to meet our bold targets.”
“This collaboration agreement lays the foundation for early engagement, ahead of future deployment of our iEPCI™ integrated project execution model, a combination that will help accelerate and deliver Cairn’s bold deepwater development vision with greater certainty," said Doug Pferdehirt, Chairman and CEO of TechnipFMC.
Cairn’s deepwater initiative
Cairn has over 4,500 sq. km. of offshore deepwater block in the Krishna Godavari (KG) Basin in the east coast with water depths ranging from 500 to 2,500 meters. The block currently has four gas discoveries, 2,000 sq. km. covered with 3D seismic, and four prospects identified with resources potential of 5 TCF, which are yet to be drilled.
