Cairn India, one of the largest independent oil and gas exploration and production companies in India, today announced that it average gross production for H1 FY2015 was 206,125 barrels of oil equivalent per day (boepd), 3% lower than the previous year due to the planned maintenance shutdown at the Rajasthan facilities and a suspension of gas sales at the Ravva block, partially offset by higher production at the Cambay block.

In Q2 FY2015, average gross operated production and working interest production were 9% and 7% lower year on year (yoy) at 194,508 boepd and 123,178 boepd, respectively. At Rajasthan, we successfully completed the planned shutdown announced in Q1, for routine operational and statutory maintenance activity at the Mangala Processing Terminal, which resulted in lower production of 163,262 boepd, with Development Area (DA)-1 and DA-2 producing gross averages of 134,539 boepd and 28,723 boepd respectively. We are back to normal production levels at Rajasthan after the shutdown; excluding the shutdown period, Q2 production was comparable to Q1. We also utilized this opportunity to tie-in new facility enhancements related to development projects.

At Ravva, gas sales have been suspended since July 4, 2014 on account of one of the customers undertaking a major unplanned maintenance activity within their Andhra Pradesh pipeline network. Hence, production at Ravva was lower at 20,596 boepd during the quarter despite a positive oil contribution from the 4D infill well campaign.

At Cambay, production increased by 23% yoy at 10,651 boepd during Q2 on account of successful well intervention measures undertaken in the previous quarter.

Shares of the company declined Rs 13.5, or 4.52%, to settle at Rs 285. The total volume of shares traded was 314,550 at the BSE (Friday).