Cairn Receives Approval of Field Development Plans

The Field Development Plans for the Mangala, Aishwariya, Saraswati and Raageshwari fields in Block RJ-ON-90/1, Rajasthan, North West India have now been approved by the Management Committee (Directorate General Hydrocarbons, ONGC and Cairn). This final approval follows the earlier agreement on the FDPs reached at the joint venture Operating Committee between Cairn and ONGC.

In order to finance its share of the Northern Fields development project, Cairn is in the process of finalizing a $1 billion bank facility which it intends signing prior to the end of June this year.