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Cairn India starts oil output from new field in Rajasthan Block

Source : REUTERS
Last Updated: Sat, Mar 23, 2013 12:50 hrs

MUMBAI, March 23 (Reuters) - Cairn India Ltd has commenced oil production from the Aishwariya field in the Rajasthan Block bordering Pakistan and also begun commercial sale of gas from there, the company said in a statement on Saturday.

The company is engaged in oil and gas exploration, production and transportation, and has a 70 percent stake in the Rajasthan Block, while state-run ONGC holds the remaining.

Cairn India plans to raise oil output from the new field to 10,000 barrels per day and to invest more than 60 billion rupees ($1.1 billion) in exploration and development in the fiscal year beginning April, P. Elango, a member of the board said.

The fields in the Rajasthan Block produce about 175,000 bpd and contribute more than 23 percent of India's domestic production, the company said.

The company will initially sell 5 million cubic feet gas per day from the Rajasthan Block, according to the statement.




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  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
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