Cairn India gets nod for new Indian field

Jan 19, 2009 (LBO) – Cairn India, which has won a license to explore for oil off Sri Lanka’s west coast, said it got Indian government approval to go ahead with the development of an oil field in north-west India. The company said it holds material exploration and production positions in west India and east India along with new exploration rights elsewhere in India and Sri Lanka.

In Sri Lanka the firm is to explore in waters in the Mannar Basin off the north-west coast.

India currently imports approximately two million barrels of oil per day (bopd).

It produces about 700,000 bopd itself of which about 50,000 bopd comes from the
Cairn India operated Ravva field on the east coast of India The company said in a statement that the government of India has approved its ‘Declaration of Commerciality’ on the Rajasthan Block Northern Appraisal Area saying its development is commercially feasible.

“The Declaration of Commerciality (DoC) for the three discoveries made in Kameshwari West 2, 3 and 6 has been approved, along with a new Development Area of 822 square kilometres which was part of the Northern Appraisal Area.”

The Kameshwari West 2 and 3 discoveries have opened up a new play in the Barme