Cairn India makes new oil discovery in Rajasthan block
This is Cairn India's 26th oil discovery so far in the RJ-ON-90/1 block, following recent policy clarity by Govt of India.
New Delhi: Cairn India on Tuesday said it has made the 26th oil discovery in its prolific Rajasthan block. The discovery follows allowing the company to explore for oil on block well after expiry of the exploration phase.
"Cairn India has made its latest oil discovery, the 26th discovery so far in the RJ-ON-90/1 block, following recent policy clarity by Government of India (GoI) to conduct exploration activity in development blocks," the company said in a statement here.
Block oversight panel, called the Management Committee approved the exploration work programme for the RJ-ON-90/1 block on February 14 after which Cairn India, the Operator of the block, commenced the drilling of its first Exploration well, Raageshwari-South-1, on February 25 located in the southern part of the block.
"Technical evaluations indicate about 10 metres of gross oil column within Dharvi Dungar Formation," it said.
"Oil has been discovered and tested for the first time in Dharvi Dungar sands in Raageshwari-Tukaram area, where previous discoveries were in the shallower Thumbli sands," Cairn said, adding the volumes of oil in place and the potential resource base associated with this discovery are under evaluation.
Cairn Chief Executive Officer P Elango said the discovery in the block "reaffirms our belief that an aggressive exploration drilling programme will help harness the full potential of the Barmer Basin in Rajasthan."
"This is a step closer towards reserve accretion through exploration-led growth," he added.
- Reliance Jio 4G Speeds Slow? Here's What You Need to Know About Daily FUP
- Nintendo Switch: Here's Why Twitterati is Relating The Game Console to Porn
- Nintendo Switch Home And Handheld Gaming Modular Console Released
- Ranbir Kapoor, Anushka Sharma Explain Why Working With Karan Johar is Special
- Pierce Brosnan Thought He Was Endorsing A Tooth Whitener, Twitter Had A Field Day
- Bigg Boss 10: Antara Biswas Wants to Grab Salman Khan's Attention
- Pan Masala Row: Saddened to Know It Can Cause Cancer, Says Pierce Brosnan
- Abhishek Verma Rejects Allegations of Purported Defence Leaks by Varun Gandhi
From Our Network
- AAP in new packaging: Is Swaraj India cloning old party by targeting Varun Gandhi?- FirstPost
- Senior SP leaders to mediate between Akhilesh Yadav and Mulayam Singh to resolve contentious issues - Pradesh18
- Did MLA Satyadev Katare die due to Assembly's 'bad vastu', asks Kailash Vijayvargiya - Pradesh18