Cairn India is planning to invest $2 billion to raise output by 71% over the next few years. Currently, it is producing 175,000 barrels of oil per day from its blocks in Rajasthan state and its fields have the potential to support production of 300,000 barrels a day.
The state run firm has already spent $3.31 billion to boost production at oil fields and plans to spend more in the financial year that begins April 1. Recently, the explorer launched production at Aishwariya, the third-largest field in Rajasthan. Other fields operated by the Vedanta group company include the Mangala, Bhagyam and Saraswati fields.
