Cairn India makes 6 Rajasthan oil discoveries in just 1 year
24 Jun 2015 10:34 PM GMT
“Since recommencement of exploration in Rajasthan, Cairn India has announced 12 new discoveries. In FY 2014-15, the company announced six discoveries thus taking the overall discoveries made till date in the block to 37,” the company said in its latest annual report.
The main oil field in the Rajasthan block -- where Cairn India is the operator with 70 per cent stake and state-owned Oil and Natural Gas Corp (ONGC) holds 30 per cent -- are Mangala, Bhagyam and Aishwariya (MBA). The Mangala field, the largest onshore hydrocarbon find in India in the last two decades, was discovered in January 2004. This was followed by discoveries at the Aishwariya and Bhagyam fields. Cairn said MBA and other fields produced an average of 175,144 barrels of oil and oil equivalent gas in 2014-15.
“An average of 174,119 barrels per day (bpd) of crude oil was sold to public and private sector refiners in India. In addition, gas sales during the year were at an average of 9 million standard cubic feet per day,” it said. Giving details of the finds made in the year ended March 31, Cairn said the first discovery was in well SL-1, which flowed oil at an initial rate of 120 barrels per day from the Dharvi Dungar formation. “It marked the 32nd discovery in Rajasthan.”
The second discovery was exploration well NL-2, flowing oil at an initial rate of 100-150 bpd while DP-1 was the third discovery - the 34th in Rajasthan made in the Barmer Hill formation, flowing oil at 120 bpd. “This is a significant discovery, given its proximity to the Mangala field; and fast track appraisal is planned to facilitate rapid commercialisation,” Cairn said.
The fourth discovery in the year was Saraswati SW-1; which is located below the Fatehgarh formation from where the MBA fields produce. The well flowed oil at around 250 bpd. Aishwariya 46 followed that, flowing oil at 182 bpd from the Dharvi Dungar formation. “This well represents the first Dharvi Dungar oil discovery in the northern part of Barmer basin, closer to several other discoveries and key infrastructure,” it said.
The sixth discovery, the 37th in Rajasthan, was the Saraswati-4 Basement which encountered a <g data-gr-id="36">250 meter</g> gross oil-bearing interval and flowing oil at 160 <g data-gr-id="34">bpd</g>.
“It is a play opener in the Barmer basin with potential for substantial resources in the Saraswati structure over 25 sq km,” Cairn said. The 3,111 square kilometer Rajasthan block RJ-ON-90/1 consists of three contiguous development areas -- Development Area (DA) 1 which comprises the Mangala, Aishwariya, Raageshwari and Saraswati (MARS) fields; DA 2 consisting of the Bhagyam, NI, NE and Shakti fields; and DA 3, having the Kaameshwari West fields.
‘Need easy solutions to achieve solar rooftop capacity target’
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The Ministry of Finance has also asked public sector banks to encourage home loan/home improvement loan seekers to install SPV rooftop systems and include the cost of such equipment in their home loan proposals. “Since the SPV rooftop market is at a nascent stage, capital subsidy alone may not be the solution to achieve targeted installations but comprehensive solar solutions is the need of the hour. “Promoting SPV rooftop for self-consumption could be the most important step towards popularising SPV rooftop,” it said.
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