Cairn taps into Rajasthan field
CAIRN Energy, the Edinburgh-based oil and gas explorer, said today that it remains on track to deliver the first oil from the Rajasthan oil field in the second half of 2009.
The company, headed by former Scotland rugby internationalist Sir Bill Gammell, also reported production of 74,000 barrels of oil equivalent a day in the third quarter.
It also achieved an average price of $70.06 a barrel of oil equivalent in the period. In a statement, the firm said: "Cairn has funding in place and remains on track to deliver first oil from Mangala in H2 2009 and to focus resources on advancing progress on the future transformational growth potential in Greenland."
It has previously said that its Cairn India arm will deliver revenues of up to 1.6 billion a year at the Rajasthan fields.
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Saturday 18 February 2012
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