Cairn India owns ten oil and gas blocks that include producing, development and exploration assets.
The Rajasthan block, RJ- ON-90/1, in which it has a 70% stake, contributes significant proportion of
Cairn India's total production. The location of the ten blocks is divided into three strategically focused
areas: one in Rajasthan; three on the west coast of India; and five on the east coast of India, including
one in Sri Lanka. Recently, Cairn India acquired one block at South Africa. Exploration activities are at
different stages in some of these blocks.
Cairn India has net cash of US $2.4 billion or Rs65/share, about 20% of its current market cap and
nearly equal to its capital expenditure guidance for the next two years. This leaves room for the
possibility of a higher payout to the shareholders.
Portfolio optimisation in process: Cairn India has identified a high-risk, high-value deeper prospect at
Ravva, capable of extending the field’s economic life; the drilling for the same is scheduled in H1FY14.
Acquisition of 3D seismic data of Sri Lanka is complete with exploratory drilling planned in mid-CY2013.
The Aishwarya field commencing by FY2013-end, and government of India approval to further explore
Rajasthan basin, where besides crude, rich gas finds in southern part can be commercially exploited.
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