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Our Bureau

New Delhi, Aug. 26

Cairn India has revised the oil production forecast from its Rajasthan fields. The company is expecting to produce 16 per cent more oil, at 175,000 barrels a day from the earlier estimate of 150,000 barrels a day, once it starts production in the second half of 2009, Mr Rahul Dhir, Chief Executive of Cairn India, said.

Speaking to Business Line , he said that the company has submitted a revised field development plan for Mangala oil field, largest in the Rajasthan block. The revised field development plan for Mangala envisages a 25-per-cent increase in peak production at 125,000 barrels a day.

The company has also investment approval for the Bhagyam field, he said.

“We are expecting a sustainable plateau production rate of 175,000 barrels a day from the three proven fields of Mangala, Bhagyam and Aishwariya up from the previous forecast of 150,000 barrels a day,” Mr Dhir said.

For its upstream activities, the company has contracted two drilling rigs and development drilling would begin in the last quarter of 2008 calendar year. “The focus for us now has shifted to execution of the ground,” he added.

On the mid-stream activity, the Chief Executive said, work on ground for laying the pipeline has started. A pipeline is being laid from Barmer, Rajasthan, to Gujarat coast for transporting the crude. “All major contract work and construction has been awarded in Rajasthan. The development of both the pipeline and its associated operations, along with the processing facilities at Mangala, are on track and all the major contracts for vital equipment have been placed,” Mr Dhir said.

As regards the possible buyers of the crude, he said, “It is to be decided by the Government.”

There were reports that the Government may decide on multiple nominees for Rajasthan crude.

More Stories on : Outlook | Petroleum | Cairn India Ltd | Other States

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