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Cairn India to drill 48 wells at Mangala oilfield: Report

14 May 2013 Evaluate

Cairn India in order to expand the current production plateau is reportedly planning to drill 48 wells at Mangala oilfield in the Rajasthan block. It will be investing around $100 million to drill these wells. At Mangala oilfield, 109 producers’ wells and 48 injectors’ wells have been drilled till date, out of the approved 162 wells, including 111 producers’ wells and 51 injectors.

The block’s operating committee, which consist of two partners Cairn and ONGC, has approved drilling and completion of additional up to 48 infill wells beyond FDP count of 162 wells in order to attain possible extension of plateau and additional reserves within the overall approved FDP cost of $2,367.31 million.

Peers
Company Name CMP
ONGC 222.70
Oil India 442.15
Jindal Drilling&Inds 586.50
Deep Industries 748.55
Asian Energy Service 465.75
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