Cairn India is planning to invest Rs 3,000 crore over the next 3 years to improve recovery from its prolific Rajasthan oilfield. The company is also planning to launch the largest enhanced oil recovery (EOR) and improved oil recovery (IOR) schemes. The EOR/IOR schemes will help recover over 90 million barrels of oil in the Rajasthan block and sustain peak output for a longer time. This investment is part of the Rs 12,800 crore capex the company had outlined last year. More than 80% of the total capex will be spent on Cairn's prolific Barmer oil block in Rajasthan.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Average daily gross operated production was 205,014 boepd in Q3 FY2012-13. The Company sells its oil to major refineries in India and its gas to both PSU and private buyers.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Average daily gross operated production was 205,014 boepd in Q3 FY2012-13. The Company sells its oil to major refineries in India and its gas to both PSU and private buyers.
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