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19

Cairn Energy's Indian Fields To Start in 2009

Cairn Energy, independent oil and gas exploration and production company, said the Rajasthan oil project starts production

Cairn Energy, independent oil and gas exploration and production company, said the Rajasthan oil project starts production in the second half of 2009.

Scottish based firm added also the construction of the 600-kilometre pipeline that will link the fields to the refineries will start in the second half of 2008, with the first phase of the project from Barmer to the Viramgam pumping station expected to be completed early next year.

Cairn Energy made the statement after Cairn India, in which it owns a 65 pct stake, revealed a 9 percent upgrade in gross reserves in the Rajasthan fields, including Mangala, Bhagyam and Aishwariya, to 685 million barrels. Cairn India also estimated that the upstream and midstream development will cost around $1.8 billion from 2008 until end-2009.