Cairn India will step up its oil production from its Barmer oil fields to 1,30,000 barrels of oil per day (bopd) from June end.
The increased production will mean a huge forex savings for the country and to some extent help to reduce India’s dependence on foreign oil.
Currently, the company is producing 60,000 bopd from its Rajasthan oil fields. At present there are two trains working at the Mangala processing terminal and the company is hoping to add train three by June end, according to company officials.
As per the Q4 results of Cairn India Mangala’s average gross production in FY 2010 was 14,861 bopd and during Q4 FY 2010 was 17,532 bopd.
The Mangala field, which was discovered in January 2004, is the largest onshore oil discovery in India in more than 20 years. At the current rate Cairn will contribute 20 per cent of India’s crude oil produce.