SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Cairn ties up $1.6 bn for Rajasthan field

15 Oct 2009 Evaluate

Cairn India has tied up $1.6 billion (Rs 7,450 crore), including Rs 4,000 crore from the State Bank of India, for funding its Rajasthan development activities. Cairn, which expects to invest around $1-1.3 billion in the Rajasthan oil block, will also use the 6-year loan to repay its existing debt of around $850 million.

 

Besides SBI, it will receive around $500 million from UK's Standard Chartered Bank another $250 million from the World Bank's International Finance Corporation (IFC). The resource base has continually grown since the discovery of Mangala in 2004 and the focus in the coming years will be to realise the full potential of the Barmer basin.

 

The Mangala, Bhagyam and Aishwariya fields together with their Enhanced Oil Recovery (EOR) potential are being developed in sequence. The company seems to have chosen a deliberate strategy to source half of its fund requirements from India while sourcing the other in foreign currency.

 

Cairn has already invested around $2 billion since oil was first struck in Rajasthan in 2004, shortly after it acquired a 70% stake in the block from Shell.crackcrack
Peers
Company Name CMP
ONGC 283.70
Oil India 467.75
Jindal Drilling&Inds 544.75
Deep Industries 486.25
Asian Energy Service 312.10
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×