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Our Bureau

New Delhi, Dec. 22 Cairn India Ltd has struck more oil and gas in its Rajasthan block which could take the estimated production from the area beyond the targeted 175,000 barrels a day by 2010.

The company’s exploration team is yet to determine the reserves from the fresh find in the area.

But the well had a flow of 500 barrels of oil a day and 0.4 million standard cubic feet a day of gas during the testing phase.

In a statement issued here, the company said that the discovery has been made adjacent to the Raageshwari oil field in the block RJ-ON-90/1. Cairn made a major oil discovery (Mangala) in Rajasthan at the beginning of 2004. More than 20 discoveries have been made in Rajasthan block.

The new well is situated 1.5 km off the Raageshwari 1 well in the southern part of the Mangala, Aishwariya, Raageshwari and Saraswati development area in the block.

The adjacent Raageshwari field is commercial and has an approved field development plan. The well was spudded on November 21 and reached total depth on November 24.

“Future work on the Raageshwari East 1/1Z includes field studies to determine the extent of the discovery as well as to evaluate cost-effective development options,” the Chief Executive Officer of Cairn India, Mr Rahul Dhir, said.

“The success of this well on the eastern flank of the Raageshwari structure extends the productive reservoir in a new trapping style and proved a deeper oil column,” he said.

In Rajasthan, Cairn India operates block RJ-ON-90/1 under a production sharing contract (PSC) signed in 1995.

The main development area, which includes Mangala, Aishwariya, Saraswati and Raageshwari, is shared between Cairn India and ONGC, with Cairn India holding 70 per cent and ONGC 30 per cent.

Another development area, including the Bhagyam and Shakti fields, is also shared between Cairn India and ONGC in the same proportion.

More Stories on : Petroleum | Announcements | Cairn India Ltd

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