Between 2014 and 2016, Cairn India has planned a net capital investment of $3 billion in its Rajasthan oil and gas field, Chief Executive P Elango said in the company’s annual report.
By March 2014, Cairn India aims to raise crude oil production from the Rajasthan asset by as much as 23 per cent to 215,000 barrels per day.
The Rajasthan block’s current production is at around 175,000 bpd. The company expects to exit 2013-14 with a production in the range of 200,000-215,000 bpd, Elango said.
The current production comes from five fields — Mangala, Bhagyam, Aishwariya, Raageshwari and Saraswati.
The Mangala field, he said, is producing at plateau rates of 150,000 bpd. Aishwariya commenced production in March and may ramp up to approved rate of 10,000 bpd over the next few months.
Bhagyam, the second biggest oilfield behind Mangala, is expected to ramp up to the approved rate of 40,000 bpd by the second half of current fiscal, he added.
Also, the Mangala Enhanced Oil Recovery ( EOR) Field Development Plan ( FDP) approval is in progress and Cairn expects to start full field implementation in 2014-15, which will result in greater output and a further extension of the plateau in the producing field.
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