Barmer, Mar 23 (IBNS) The Cairn-ONGC Joint Venture (JV) has commenced production from the Aishwariya field, the third largest discovery in the Rajasthan Block (RJ-ON-90/1). The field will achieve a gradual and safe ramp up to reach the currently approved FDP rate of 10,000 bopd.
The oil production from Aishwariya field was inaugurated on Saturday, by Union Petroleum and Natural Gas Minister M Veerappa Moily in Barmer, Rajasthan in the presence of Chief Minister Ashok Gehlot.
The Mangala, Bhagyam and Aishwariya (MBA) fields have gross recoverable oil reserves and resources of approximately one billion barrels. Production from the Rajasthan Block currently contributes more than 23% of India's domestic production.
P Elango, Member of the Board, Cairn India, said: "Commencing production from Aishwariya field is another major milestone in the journey to unlock the full potential of world class Barmer basin. We have worked closely with all stakeholders to ensure that the project is delivered on time. The production will be gradually ramped up to 10,000 bbl/day and this will further reduce the nation's import bill."
"Our gross Rajasthan development investment to date is more than INR 18,000 crores and we intend to invest over INR 6,000 crores in exploration and development activities during FY2013-14."