British energy firm Cairn Energy Plc plans extensive exploration over the next 18 months its Rajasthan block, the site of India's largest oil discovery in almost two decades.
| |||||||||||
"We have laid out an extensive exploration programme in the block during the next 18 months beginning with the appraisal of the latest find," Cairn Energy's country manager Alan Linn told PTI from Edinburgh.
Cairn had earlier this week announced a significant oil discovery in the Barmer block in Rajasthan. It estimated in-place reserves of between 450 million and 1.1 billion barrels of oil, with preliminary recoverable reserves of between 50 million to 200 million barrels.
The field, put to production more than a decade ago, currently produces around 2 mn tonnes of crude oil annually.
"We need to understand the discovery and carry out an appraisal programme before we arrive at how much the field can produce," Linn said.
Cairn plans to drill three appraisal wells on the structure and reckons it could be in a position to file a development plan for the field before year-end.
"The appraisal programme will help decide the commerciality of the find," he said.