Cairn India, ONGC To Invest $4 Billion In Rajasthan Fields, India
Cairn India Limited (Cairn India) and Oil and Natural Gas Corporation Limited (ONGC) will together invest $4 billion (INR200 billion) to increase production capacity of Barmer oil fields in Rajasthan by 25,000 barrels of oil per day (bopd) to 0.2 million bopd, Economic Times reported. Previously, the production targets were revised from 0.15 million bopd to 0.18 million bopd. Both the companies will share the investment in the ratio of 70:30 in line with their stakes in the oil fields.
Cairn India's Chairman, Bill Gammell said: “By 2011, Cairn and its joint venture partner will invest up to $4 billion on the development of Mangla, Bhagyam and Aishwarya fields.”
“We will commence crude oil production from Barmer shortly. We believe there is potential to extend and enhance peak plateau production from Rajasthan fields above the level of 1,75,000 bopd,” he added.
By August 2009, commercial production at the Mangla filed in the Barmer basin is expected to start with an primary capacity of 30,000 bopd. In first half of 2010, production will be increased by a further 100,000 bopd.
Latest News
Related News
Oil & Gas> Drilling & Production
Oil & Gas> Exploration & Development
EBR News> Commodity> Hydrogen
Related Dates
2009> August
Related Industries
Energy and Utilities> Upstream Energy> Exploration
Energy and Utilities> Commodity> Hydrogen
Energy and Utilities> Upstream Energy> Production
Related Insight
Suppliers Directory
Power Generation Biofuels & Biomass Fossil Fuel Geothermal Hydro Nuclear Solar Wind
Power Distribution Utilities Network Utilities Retail
Mining & Commodities Carbon Coal Minerals & Materials Nuclear Fuels
Intelligence
“Competing For Share Of Global Upstream Oil & Gas Industry Spend In 2010-2011” is a new report published by ICD Research that analyzes how industry suppliers’ media spend, marketing and sales strategies & practices and business planning will be shaped in 2010 to 2011. In an uncertain economic climate this report gives you access to the media channel spending outlooks, media budgets, marketing agency selection criteria, business challenges and sales tactics of leading suppliers to the upstream oil and gas industry. The report also identifies oil and gas exploration and production companies and suppliers future growth, M&A and investment expectations. The research is based on an extensive survey of senior and C-level industry executives from our market leading panels. Reports Buy online from $2000

Comments may be moderated for spam, obscenities or defamation.