Cairn finds more oil in Rajasthan
Vedanta group firm Cairn India on Tuesday announced a new oil discovery at its block in Barmer, Rajasthan. HT reports.business Updated: Apr 09, 2013 21:21 IST
Vedanta group firm Cairn India on Tuesday announced a new oil discovery at its block in Barmer, Rajasthan.
"Cairn India has made its latest oil discovery, the 26th discovery so far in the RJ-ON-90/1 block, following recent policy clarity by the government to conduct exploration activity in development blocks," the company said in a statement.
The block oversight panel, called the 'Management Committee' approved the exploration work programme for the RJ-ON-90/1 block on February 14. After this Cairn India commenced the drilling of its first exploration well, Raageshwari-South-1, located in the southern part of the block, on February 25.
"Oil has been discovered and tested for the first time in Dharvi Dungar sands in Raageshwari-Tukaram area," Cairn said, adding the volumes of oil and the potential resource base associated with discovery are under evaluation.
Cairn CEO P Elango said the discovery in the block "reaffirms our belief that an aggressive exploration drilling programme will help harness the full potential of the Barmer Basin in Rajasthan."