Cairn to start pumping Rajasthan crude on 29 August

26 Aug 2009

1

Rahul DhirUK-based Cairn Energy's Indian arm, Cairn India, will start oil production from its Rajasthan fields on 29 August, the company's chief executive Rahul Dhir said at a conference call today.

Dhir said Prime Minister Manmohan Singh will inaugurate the first production train and dedicate the field to the nation on Saturday. Oil minister Murli Deora and Rajasthan chief minister Ashok Gehlot would also attend the event.

The Mangala field will initially produce "a few thousand barrels of oil per day" and gradually ramp up production to 30,000 bpd, Dhir said, adding, that it will reach peak production of 1,25,000 bpd in the first half of 2010.

The first oil would be shipped to Mangalore Refinery and Petrochemicals Ltd, a subsidiary of state-run ONGC, via the Kandla port in Gujarat, Dhir said.

ONGC also owns a minority stake in Cairn India's Rajasthan project. The two are planning additional investment to the tune of $1.5-1.8 billion in developing the Mangala field - the largest oil find in the country in more than two decades.

The two will also invest $600-700 million on Bhagyam and Aishwariya fields besides the nearly $1 billion being spent on laying a pipeline to Gujarat coast to transport the oil, he said.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers