JOIN USThe Cairn India-operated Barmer oil field in Rajasthan has announced two more oil discoveries in the prolific Rajasthan block, taking the total in the Barmer district block to 28. The finds have added an estimated 500-600 million barrels of in-place oil resources, the company said.
Cairn India reported record revenues from its fields. Cairn's Rajasthan fields produced 184,982 barrels of oil per day in the quarter and output may rise to 200,000 bpd at the end of the financial year as it puts satellite fields into production. Also, the government's share of profit from the Rajasthan fields went up to 30 per cent from 20 per cent.
"Since the resumption of exploration in March 2013, nine exploration and appraisal wells have been drilled until December and the initial results have been encouraging with these discoveries and a success ratio of over 50 per cent," it said, adding that the finds have added an estimated 500-600 million barrels of in-place oil resources to the existing 4.2 b boe (barrel of oil equivalent).