Cairn partners Halliburton to increase recoverable oil reserve, explore shale

Cairn Oil and Gas Limited, a Vedanta group company, has entered into an agreement with Halliburton Offshore Services to increase the recoverable hydrocarbon reserves from its offshore assets. Cairn aims to increase the yield from the Ravva field off the Andhra Pradesh coast, the Cambay block on the western coast and several newly acquired blocks through bidding under the Open Acreage Licencing Policy regime. Cairn will work with Halli­burton to pursue its target of increasing the recoverable reserves from its offshore assets to 300 mboe from the current level of 30 mboe. Additio­nally, the two companies agreed to begin shale exploration in the Lower Barmer Hills area of western Rajasthan. The companies will develop pilot drills to explore the potential of shale in the Barmer basin.