Cairn India is a gas vertical of Vedanta Group, gas exploration and Indian oil production corporation. The headquarter of Cairn India is situated in the Gurgaon, India. Cairn India is planning to invest 37000 Crore in its own Bramer oil fields in the state of Rajasthan. This investment money to be spent in coming years on enhancing production of the crude oil in the region.
The MoU signing is in Jaipur and the Oil Minister M Veerappa Moily and Rajasthan Chief Minister Ashok Gehlot will be attending the event.
Cairn India currently produces about 175,000 barrels per day oil from the Rajasthan fields and has potential to go up to 300,000 bpd (15 million tonnes).
Dharmendra Pradhan who is the minister of Natural Gas & Union Petroleum launched the new programme of Enhanced Oil Recovery (EOR) that is for the Mangala Bhagyam Aishwarya (MBA) fields in Barmer.
The main objective of this programme is to achieve the target of production of 5 lakh barrels oil every day that comes from the Barmer oil fields. The union minister also communicated with young engineers and women petroleum engineers after inaugurating the Enhanced Oil Recovery Programme.
Sudhir Mathur who is the CEO of Cairn India also insured that the organization has proposed to double the production output. The Enhanced Oil Recovery – Mangala Bhagyam Aishwarya project will play the important role in achieving this goal.
According to the release, the production will rise up to 3 Lakh barrels oil per day based on the plan of 12000 crore capital investment. This plan has already been initiated. So the production will further rise up to 5 Lakh oil barrels per day when they will apply full investment plan that is 37000 crore that can be initiated over next some years.