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|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
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|Hyderabad||Rs. 24140.00 (1.17%)|
Jaipur, April 9 (IANS) Vedanta group firm Cairn India Tuesday said it has made the 26th oil discovery in its RJ-ON-90/1 block in Rajasthan's Barmer district.
Technical evaluations indicate nearly 10 metres of gross oil column within Dharvi Dungar sands in Raageshwari-Tukaram area, the company said in a statement.
"We are delighted with the 26th discovery in the block. This reaffirms our belief that an aggressive exploration drilling programme will help harness the full potential of the Barmer Basin in Rajasthan. This is a step closer towards reserve accretion through exploration led growth," said Elango P, board member.
The discovery was made after the government allowed oil firms to conduct exploration activities in development blocks.
"The Management Committee approved the exploration work programme for the RJ-ON-90/1 block on 14 February, 2013, post which Cairn India, the Operator of the block, commenced the drilling of its first Exploration well, Raageshwari-South-1, on 25 February, 2013 located in the southern part of the block," said the company.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Average daily gross operated production was 205,014 boe (barrel(s) of oil equivalent) in Q3 FY2012-13. The company sells its oil to major refineries in India and its gas to both PSU and private buyers.