British oil explorer Cairn Energy is pleased to announce that it had discovered an oil deposit in north-west India and said these resources could yield around 500 million pounds a year.
Cairn?s chief executive, Bill Gammell, said its is possible to have around $1 billion from 2008 there, if based on a $40 oil price, taking account of production costs and the Indian government's 30% share in the fields. The biggest field, Mangala, is due to start production at the end of 2007.
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Cairn Energy Discovered Oil In India
British oil explorer Cairn Energy is pleased to announce that it had discovered...