Cairn India’s three oil fields – Mangala, Bhagyam and Aishwariya – in its Rajasthan block had an in-place oil reserve of 2.19 billion barrels as of March 31, 2013 compared to 2.090 billion barrels as on March 31, 2012.
It may be noted that these three fields produced oil at the rate of about 170,000 barrels per day for most part of 2012-13.
The above fields have gross ultimate oil recovery of over 1 billion barrels from primary, secondary and Enhanced Oil Recovery (EOR) methods, the firm said.
In a communication to stock exchange, the firm said recoverable reserves (Gross Proved and Probable Reserves and Resources) in MBA fields are 905 million barrels of oil equivalent.
The company also said that other fields in the Rajasthan block hold over 2 billion barrels of oil equivalent, of which 180 million barrels could be recoverable.
The firm said it is making progress in the evaluation of other discoveries in the Rajasthan block and has submitted development plans for the NI, NE and Barmer Hill oil pools to its joint venture partner for review.
Cairn India owns 70 per cent stake in the block, with the remaining held by the state-owned Oil and Natural Gas Corp (ONGC).
For all its properties in India and Sri Lanka, Cairn said 2P reserves would be 1.286 billion barrels of oil equivalent.
DeGolyer and MacNaughton (D&M), the leading independent reserves auditors, in an independent review estimate it to be 1.296 billion barrels,” it said.
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