Cairn claims more oil reserves in Rajasthan block

Cairn India said its main MBA oil fields in the prolific Rajasthan block hold 2.19 billion barrels of inplace oil reserves at the end of 2012—13 fiscal, about five per cent more than a year ago.

Mangala, Bhagyam and Aishwariya, popularly known as MBA fields, held 2.090 billion barrels of inplace oil and gas reserves as on March 31, 2012 and despite the three fields producing at the rate of about 170,000 barrels per day for most part of the year, the fields are now estimated to hold 2.193 billion barrels of oil equivalent.

Cairn in a filing to the stock exchanges said recoverable reserves (Gross Proved and Probable Reserves and Resources) in MBA fields are 905 million barrels of oil equivalent.

Other fields in the Rajasthan block hold over 2 billion barrels of oil equivalent, of which 180 million barrels could be recoverable.

“DeGolyer and MacNaughton (D&M), the leading independent reserves auditors, in an independent review estimate it to be 1.296 billion barrels,” it said.

Cairn said the MBA fields in Rajasthan block “have gross ultimate oil recovery of over 1 billion barrels from primary, secondary and Enhanced Oil Recovery (EOR) methods.”

“Evaluation of the other discoveries in the Rajasthan block has made progress and development plans for the NI, NE and Barmer Hill oil pools have been submitted to our joint venture partner for review,” it said.

Cairn holds is the operator of the Rajasthan block with 70 per cent interest while the remaining 30 per cent is with state—owned Oil and Natural Gas Corp (ONGC).

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