The company now estimates recoverable reserves of 500 million barrels of oil at the Mangala, Bhagyam and Aishwariya fields in the Rajasthan block, Cairn Energy said in a statement.
According to the new forecast the oil that can be extracted from the three key fields are double than that of the previous assessment.
Cairn said production at the three fields in the north of its Rajasthan development area was expected to be 120,000 to 150,000 barrels per day compared with earlier indications of 80,000 to 100,000 bpd.
The new production estimates are more than half of what India's largest fields, Mumbai High produces.
The company now estimates recoverable reserves of 500 million barrels of oil at its Mangala, Bhagyam and Aishwariya fields in Rajasthan, based on using water flooding recovery methods.
Cairn Energy chief executive Bill Gammell said the company could yet add another 148 million barrels to the tally if enhanced recovery techniques are successful.
At a $40 per barrel price of oil, a 100,000 bpd production rate would mean $1 billion per year net cash flow to Cairn, assuming its partner, state-owned Oil and Natural Gas Corporation, takes its share of 30 percent of production.
The company said independent assessments put total oil at the three Rajasthan fields at 1.64 billion barrels.
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