Baker Hughes (BH), the oilfield service subsidiary of General Electric (GE), today announced that it has won an integrated oilfield service and equipment contract for development of the Mangala, Bhagyam and Aishwarya (MBA) fields in Rajasthan operated by Vedanta’s oil and gas subsidiary Cairn Oil & Gas.
“BHGE will provide an integrated scope of oilfield services and equipment, delivered in phases over the next 24 months to help Cairn Oil & Gas, Vedanta Ltd unlock the significant untapped reserves in the MBA fields,” Baker Hughes said in a statement.
The firm said that the contract would also involve construction of 300 new wells in Rajasthan and deployment of a chemical Enhanced Oil Recovery programme.
“By fast-tracking the operations of the MBA fields, our focus is on enhancing our productivity to support the nation’s energy needs,” said Sudhir Mathur, CEO, Cairn Oil & Gas. “The decisive factor in awarding the contract was the competency of our partner in delivering solutions that enhance productivity and ensure cost efficiency. BHGE has been a long-term partner to Cairn and with this project we will strengthen our relationship further,” he added.
According to Baker Hughes, this would be the largest integrated oilfield service project for the company in India.
“This is a landmark agreement that underpins our leading technology position and the value of our fullstream portfolio. From reservoir modelling and well construction to chemical injection and facility construction, our advanced technology solutions aim to deliver unprecedented levels of productivity for our customers,” said Ashish Bhandari, CEO, India and South Asia, Baker Hughes.
The project is anticipated to begin in the second half of 2018 and would continue for three years.
Cairn Oil & Gas’ production rose 4 per cent to 17.7 million barrel of oil equivalent during the first quarter ended June 2018 and average oil price realisation during the June quarter increased 50 per cent to $67.2 per barrel, pushing the company’s total revenue up 41 per cent to Rs 3,219 crore.Share This