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Cairn India expects considerable gas production from Rajasthan block in next 3 years: Report

15 May 2014 Evaluate

Cairn India is reportedly anticipating considerable gas output from its oil-rich Rajasthan block in coming three years. In this regard, the company has floated global tenders for setting up a natural gas transportation pipeline and a gas processing terminal.

Rajasthan block has been known for its oil reserves, but it could produce significant amount of gas in the next two-three years. Further, the company is planning to set up a gas processing plant at its existing Raageshwari gas terminal for processing 100 to 300 million cubic feet gas per day.

Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. The company posted a rise of 12.95% in its net profit for the period after giving impact of scheme of arrangement for earlier periods at Rs 1755.93 crore for the quarter ended March 31, 2014 as compared to Rs 1554.57 crore for the same quarter in the previous year.

Peers
Company Name CMP
ONGC 283.95
Oil India 452.90
Jindal Drilling&Inds 533.00
Deep Industries 465.00
Asian Energy Service 295.35
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