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Posted on Feb 26, 10:32AM | IBNS
New Delhi, Feb 25 : Cairn India after a gap of more than four years on Monday commenced drilling of the first exploration well in the prolific Barmer Basin following endorsement of the exploration work programme for the Rajasthan Block less than two weeks ago, by the Management Committee headed by the Directorate-General of Hydrocarbons (DGH)
This step is pursuant to the clarity in policy by the Government of India (GoI), allowing for exploration operations in development blocks and enabling Cairn India to commence its planned aggressive exploration drilling programme to help harness the full potential of the Barmer Basin in Rajasthan.
Cairn India asserted that renewed exploration activity in the block will be beneficial for all stakeholders and will help to realize the estimated half a billion barrels of oil equivalent of risks recoverable prospective resource which amounts to about a third of the Estimated Ultimate Recovery potential in the Rajasthan block.
This will help the Joint Venture to realize the basin production potential of 300,000 bopd from the Rajasthan block, the company stated.
Cairn India said it currently produces 170,000 -175,000 bopd from the Rajasthan block with a strong focus on exiting the year FY 2013-14 at a production rate of 200,000-215,000 bopd from the block.