Rajasthan fields: Cairn eyes 5000 bpd

British firm Cairn Energy, which in 2004 discovered a huge oilfield in Rajasthan, will begin early oil production from the fields in a years' time from now.

Cairn plans to produce upto 5,000 barrels of oil per day from two of the 12 discoveries made in the Barmer district of Rajasthan by mid-2006, company's exploration director Mike Watts said.

He said the company had in May submitted a development plan for Saraswati and Raageshwari discoveries, which lie in the centre and south of the Rajasthan block, to the authorities and is anticipating approval by mid-September.

Cairn had also submitted a $1 billion investment plan to put to production the largest discoveries in the block -- Mangala and Aishwariya -- with a target of beginning production by end-2007.

Mangala is targeted to produce 1,00,000 to 1,10,000 barrels per day while Aishwariya may produce 5,000 to 15,000 barrels per day of oil.

Watts said Cairn would submit development plan for the Bhagyam discovery in August/September, which would produce 15,000 to 30,000 barrels per day.

The peak production from the Rajasthan field, where Cairn estimates 1 billion barrels of oil reserves, is expected at 1,50,000 barrels per day (7.5 million tonnes per annum), he said.