Cairn believes the Rajasthan block holds an in place resource base of 7.3 billion barrels that can support 300,000 bpd of output
Cairn India on Monday said it began drilling its first exploration well in four years on the Rajasthan block which will help the company to boost its output to 215,000 barrels per day by March 2014.
On 14th February, a block oversight committee, headed by the Directorate General of Hydrocarbons (DGH), allowed the oil explorer to drill its three wells to explore new oil pools on Rajasthan block this fiscal. Cairn plans to drill 30 exploration wells by March 2014 and a similar number in the year thereafter.
"Following endorsement of the exploration Work Programme for the Rajasthan Block (RJ-ON-90/1) by the Management Committee less than two weeks ago, Cairn India has today commenced drilling of the first exploration well, after a gap of more than four years, in the prolific Barmer Basin," the company said in a statement.
The company said, "This (drilling) is pursuant to the clarity in policy by the Government of India, allowing for exploration operations in development blocks."
Cairn currently produces 170,000-175,000 bpd from the Rajasthan block and plans to finish 2013-14 with a production of 200,000-215,000 bpd from the block.
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