Cairn India to invest $100 mn in Rajasthan

Cairn India, a Vedanta group company, would be investing $100 million (Rs.67,000 crore) this year, with focus on its Rajasthan gas fields. The capital investment is estimated for this financial year, with 80 per cent focus for development of the Raageshwari Deep Gas (RDG) project and completion activities of the Mangala field´s enhanced oil production, a company spokesperson said. ¨As part of Phase-1, eight out of the 15 wells have been brought online and will start adding to the production. The rest of the wells are also planned to be brought online by December,¨ the spokesperson said. A contract for augmentation of the existing facility will be awarded shortly.
A contract for enhancement of the existing pipeline capacity should be awarded in the current quarter, he said. Completion of Phase-1 is expected to increase the gas production to 40-45 mscfd by the end of the first half of 2017. For Phase-2, tendering activity for a new gas processing terminal and drilling rig is on.