Cairn hikes production targets from Rajasthan fields
Cairn Energy has hiked its estimate of peak production from its Rajasthan oilfields to between 120,000 and 150,000 b/d.
Cairns preliminary results issued on 19th April said first production end-2007 would begin from its biggest field Mangala followed by Bhagyam and Aishwariya. Cairn adds that this month DeGolyer & MacNaughton estimated proven and probable in-place volumes for the three fields at 1.64bn barrels, of which Mangala holds 1067m barrels; Bhagyam holds 355m barrels; and Aishwariya holds 219m barrels.
Cairns field development plan for Mangala - to be submitted in May - will assume a recovery factor of 35%. Various pipeline export options are being investigated including a dedicated pipeline to the coast, writes Cairn.
The smaller southern fields in Rajasthan are being reviewed for possible early production and evacuation of crude by truck. Cairn estimates full field development costs at $3.00 to $3.50 per barrel.
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