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23

British Company to Exploit Indian Find

Largest discovery in two decades to go on-line in less than four years...

Cairn Energy, a British energy firm, will invest $100 - $150 million to exploit India's largest on-land oil discovery in two decades.

Crude oil reserves at the field are estimated at 50-200 million barrels and commercial production will take three-and-half years.

In addition, the firm plans to put into production two smaller fields, discovered earlier in the same Barmer block, in a year's time.