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17

British Firm Raised Its Estimations

British oil firm Cairn Energy has raised its estimates

British oil firm Cairn Energy has raised its estimates of oil at its three key Indian fields.

Cairn said total potential production at the Rajasthan fields was now over 150,000 barrels per day.

Cairn shares have risen by a third in value over the last year on the back of discoveries in Rajasthan, giving the firm a market value of about 3bn pounds.

Edinburgh-based Cairn said it looked forward to "an increasing resource and production base at a time when oil prices and interest in India have never been higher".