As per its new integrated development plan, Cairn India will invest Rs 5,000 crore on its Rajasthan oil fields during 2013-16 in the interest of optimizing the potential of the block at the earliest. Presently, the government garners profit from oil and gas field only after the operator has recovered all of its investment, due to this it is not giving blanket investment nod and only gives approvals for investing upon establishment of a discovery as commercially viable.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Average daily gross operated production was 205,014 boe in Q3 FY2012-13. The Company sells its oil to major refineries in India and its gas to both PSU and private buyers.
