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Cairn strikes oil in Rajasthan
September 19, 2003 19:53 IST
Cairn Energy of the United Kingdom has again struck oil in Barmer basin of Rajasthan, Petroleum Minister Ram Naik said on Friday.
"An oil discovery has been made in Rajasthan. Detailed testing to establish the reserves is on and a more elaborate announcement is likely in a fortnight," he said at the unveiling of Royal/Dutch Shell's $600 million import terminal in Hazira.
Cairn struck oil in Rajasthan onland Block RJ-ON-90/1 in Barmer basin, in which it hold 100 per cent stake. Exploration Prospect 'D', located approximately 33-km south east of the 70 million tonnes, Saraswati discovery encountered presence of hydrocarbons.
Besides Saraswati, Cairn has also struck oil at other locations in the block which total another 30 million tonnes of oil reserves.
State-run Oil and Natural Gas Corp has a right to 30 per cent of any development area resulting from a commercial discovery on the block.