Cairn India is reportedly planning to invest $3 billion towards the company's three-year capex programme. This will lead to a reserve replacement ratio of 150 percent and help the company to deliver a growth of 7 to 10 percent in production over the next three years from the Rajasthan block.
The company’s development projects in the Rajasthan block will maximise the economic value from the existing production and add to future production by expanding the company's resources and reserves. Moreover, leveraging the gas potential of the Rajasthan block would be a priority for Cairn India and involve potential for significant expansion.
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.
