Cairn India announced its latest oil discovery

May 15, 2013 10:10 am

Cairn India has announced that it made its latest oil discovery, the 26th discovery so far in the RJ-ON- 90/1 block, following recent policy clarity by the Indian government to conduct exploration activity in development blocks.
The Management Committee approved the exploration work programme for the RJON-90/1 block on 14 February, post which Cairn India, the operator of the block, commenced the drilling of its first exploration well, Raageshwari-South-1, on 25 February located in the southern part of the block.
According to the company, “Technical evaluations indicate 10 metres of gross oil column within Dharvi Dungar formation. Oil has been discovered and tested for the first time in Dharvi Dungar sands in Raageshwari-Tukaram area, where previous discoveries were in the shallower Thumbli sands. The volumes of oil in place and the potential resource base associated with this discovery are under evaluation.”
Elango P, Member of the Board, Cairn India said: “We are delighted with the 26th discovery in the block. This reaffirms our belief that an aggressive exploration drilling programme will help harness the full potential of the Barmer Basin in Rajasthan.This is a step closer towards reserve accretion through exploration led growth.”