Cairn India aims to achieve a production level of 200,000-215,000 barrels per day (bpd) of oil 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.
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 India’s revenues grew 48 per cent year on year to Rs 17,524.15 crore, and net profit rose 52 per cent to Rs 12,056 crore.
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