OIL

Cairn Energy developing Rajasthan discoveries

BRITAIN'S Cairn Energy has released development details for some of its 12 discoveries in India's...

Media reports quote Cairn exploration director Mike Watts as saying up to 5000 barrels of oil per day (bopd) could be flowing from Saraswati and Raageshwari discoveries in the centre and south of the Rajasthan block from mid-2006.

Cairn had submitted development plans for the two Barmer district discoveries and hoped for regulatory approval by September.

As well, Cairn had submitted a $US1 billion investment plan to bring the larger discoveries, Mangala and Aishwariya, into commercial production by the end of 2007, with initial production of up to 11,000 bopd for Mangala and up to 15,000 bopd for Aishwariya.

Watts also said Cairn should soon submit development plan for the Bhagyam discovery that could produce up to 30,000 bopd.

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