TechnipFMC signs deepwater exploration agreement with India's largest private E&P company
Cairn Oil & Gas, part of Vedanta Group and India鈥檚 largest private oil and gas exploration and production听company, has entered into a strategic alliance with TechnipFMC to accelerate the delivery of integrated subsea infrastructure for future deepwater projects in India. The collaboration will leverage TechnipFMC鈥檚 integrated Engineering, Procurement, Construction, and Installation (iEPCI鈩) execution model, driving efficiency and innovation in execution.
This alliance positions Cairn to rapidly advance its deepwater exploration ambitions, tapping into TechnipFMC鈥檚 extensive expertise and cutting-edge technologies. The agreement also incorporates the use of integrated Front-End Engineering and Design (iFEED鈩), where early engagement optimizes project performance utilizing TechnipFMC鈥檚 Subsea Production Systems (SPS) and Subsea Umbilicals, Risers, and Flowlines (SURF) work scopes.
As a key player in India鈥檚 energy landscape, Cairn currently contributes ~25% of the nation鈥檚 domestic crude oil production and has a bold vision to double this, securing India鈥檚 energy future through responsible and sustainable practices.听
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.听
鈥淭his collaboration is a pivotal step in realizing our deepwater goals," said Hitesh Vaid, CFO of Cairn Oil & Gas. "TechnipFMC鈥檚 expertise is a perfect match for our ambitions, and together we will push forward at the pace required to meet our bold targets.鈥
鈥淭his collaboration agreement lays the foundation for early engagement, ahead of future deployment of our iEPCI鈩 integrated project execution model, a combination that will help accelerate and deliver Cairn鈥檚 bold deepwater development vision with greater certainty," said Doug Pferdehirt, Chairman and CEO of TechnipFMC.
Cairn鈥檚 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.听covered with 3D seismic, and four prospects identified with resources potential of 5 TCF, which are yet to be drilled.听
听
听