Cairn India Gets Permission to Begin Production at Bhagyam

NEW DELHI (Dow Jones) India's oil ministry has approved a proposal from Cairn India to start production at the Bhagyam field in the northwestern state of Rajasthan, a senior oil ministry official said Wednesday. 

Cairn will initially produce about 25,000 barrels of crude oil a day at Bhagyam, the official, who didn't wish to be named, told reporters. 
 
Cairn, majority controlled by Vedanta Group, is producing 125,000 barrels a day crude from the Mangala field in the Rajasthan block. The potential of the Rajasthan basin is estimated at 240,000 barrels a day. 
 
Cairn holds 70 percent and state-run Oil & Natural Gas Corp. holds the remaining 30 percent stake in the Rajasthan block. 
 
A Cairn India spokesman couldn't be immediately reached for comment.
 
Copyright (c) 2012 Dow Jones & Company, Inc.
 
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Senior Drilling Engineer Level IV
Expertise: Drilling Engineering
Location: Houston, TX
 
Lease Operator
Expertise: Production Operator
Location: Midland, TX
 
Drilling Engineer
Expertise: Drilling Engineering|Petroleum Engineering
Location: South Texas
 
search for more jobs

Brent Crude Oil : $53.38/BBL 0.15%
Light Crude Oil : $48.79/BBL 1.68%
Natural Gas : $2.89/MMBtu 2.48%
Updated in last 24 hours