Cairn India starts oil output from new field in Rajasthan Block

Tuesday, 26 March 2013 00:12 - - {{hitsCtrl.values.hits}}

Reuters: Cairn India Ltd. has commenced oil production from the Aishwariya field in the Rajasthan Block bordering Pakistan and also begun commercial sale of gas from there, the company said in a statement on Saturday.

The company is engaged in oil and gas exploration, production and transportation, and has a 70% stake in the Rajasthan Block, while state-run ONGC holds the remaining.

Cairn India plans to raise oil output from the new field to 10,000 barrels per day and to invest more than Rs. 60 billion ($ 1.1 billion) in exploration and development in the fiscal year beginning April, P. Elango, a Member of the Board said.

The fields in the Rajasthan Block produce about 175,000 bpd and contribute more than 23% of India’s domestic production, the company said.

The company will initially sell five million cubic feet gas per day from the Rajasthan Block, according to the statement.