Home » Cairn India expects 215,000 bpd output from Rajasthan block

Cairn India expects 215,000 bpd output from Rajasthan block

Cairn India expects 215,000 bpd output from Rajasthan block

Cairn India aims to achieve a production level of 200,000-215,000 barrels of oil per day (bpd) during 2013-14 from its Rajasthan block compared to the present production level of 175,000 bpd.

The Vedanta group firm has 26 discoveries in the block with an in-place reserve of around 7.3 billion barrels of oil equivalent. The main producing areas in the Rajasthan block are the Mangala, Bhagyam and Aishwarya fields.

Cairn India sought the permission of the union oil ministry for its Rs 5,000-crore integrated block development plan (IBDP) at its existing Barmer block spread over 2013-16.

The government does not give blanket investment approvals until the discovery has been
established as a commercially viable one.

The company aims to reduce the lead time between discovery and production from 36 months to 18 months and enhance production of hydrocarbons in the country through the IBDP.

During 2012-13, Cairn IndiaÂ’s revenues grew 48 percent year on year to Rs 17,524.15 crore, and net profit rose 52 percent to Rs 12,056 crore.

Meanwhile, the Directorate General of Hydrocarbons (DGH) rejected Cairn IndiaÂ’s request to restore around 8,000 sq km of area that it relinquished about a decade ago at its Barmer block in Rajasthan.

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