Cairn India discovers oil reserve in Rajasthan

Cairn India discovers oil reserve in Rajasthan

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Oil and gas producer Cairn India said on April 9, 2013 that it has made the 26th oil discovery in its prolific Rajasthani block. The discovery has been made by the company after it was allowed to explore for oil on a block, well after the expiry of the exploration phase.

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The company said in a statement, “Cairn India has made its latest oil discovery, the 26th discovery so far in the RJ-ON-90/1 block, following recent policy clarity by Government of India (GoI) to conduct exploration activity in development blocks”. The block oversight panel has approved the exploration work program for the RJ-ON 90/1 block on February 14, 2013, after which the company began the drilling of its first exploration well, Raageshwari South – 1 on February 25.

The drill point is located in the southern part of the block. The statement went on to say that the technical evaluation indicates about 10 meters of gross oil column within the Dharvi Dungar Formation. The company also said that oil has been discovered and tested for the first time in the Dharvi Dungar sands in Raageshwari Tukaram area.

This new discovery will mean that the company will be able to add to its oil reserve resume and the country will also be able to leverage the find for gains, specially during a time when oil prices are rising.