Cairn India to invest Rs 37,000 cr to ramp up production
By PTI | Published: 14th January 2018 08:44 PM |
Jaipur, Jan 14 (PTI) Vedanta's oil and gas vertical Cairn India is planning to invest Rs 37,000 crore to ramp up crude production at its Barmer oil fields in Rajasthan.
The investment will be made over the next few years, which will enhance the production of crude oil.
Union Petroleum and Natural Gas Minister Dharmendra Pradhan today inaugurated an Enhanced Oil Recovery (EOR) programme for Mangala-Bhagyam-Aishwarya (MBA) fields in Barmer.
The programme will help the company in achieving the production target of 5 lakh barrels oil per day (BOPD) from the Barmer oil fields.
"Production will go up to 3 lakh BOPD based on the capital investment plan of Rs 12,000 crore that has already been initiated and the production will further go up to 5 lakh BOPD with full investment plan of over Rs 37,000 crore over next few years," the release said.
The union minister interacted with young engineers and also with a group of women petroleum engineers after launching the programme.
Cairn India CEO Sudhir Mathur said the company has proposed to double the output and MBA-EOR project will play a vital role in achieving the goal. PTI SDA BAL .
This is unedited, unformatted feed from the Press Trust of India wire.