Cairn India – Mangala oilfield output reaches 1 mn barrels

Mangala oilfield output reaches 1 mn barrels. Cairn India, which began production from the world class Mangala oilfield in Rajasthan in late August, has reached one million barrels of oil output from the nation’s most prolofic onland field.

Cairn achieved the milestone of successfully producing and delivering one million barrel of crude oil in the early hours this morning,” sources in know said.  The company, which began output from Mangala on August 29, is currently producing 20,000 barrels per day.

The initial volumes of crude oil were sold to Mangalore Refinery and Petrochemical Ltd, a subsidiary of state-run Oil and Natural Gas Corp (ONGC), and Reliance Industries. Mangala field, which was discovered in January 2004, is the largest onshore oil discovery in India in more than two decades. Mangala and adjoining Bhagyam and Aishwariya fields have recoverable oil reserves of nearly 1 billion barrels. Sources said crude is currently being supplied to two of the three buyers – MRPL and RIL. Indian Oil Corp (IOC) is expected to get its supply from 2010.

The oil is being sold at an average of 10-15 per cent discount to the average price of Brent crude oil during the six months to September 2009, they said. The Mangala crude from Rajasthan is a 27 degree API good quality sweet crude with very low sulphur content.

No related posts.