Cairn India is likely to invest Rs 16,000 crore as a capital expenditure in order to fund and produce more oil over the next three years through the end of FY 2016. It will be investing around Rs 13,000 crore in Rajasthan alone and drilling over 450 wells comprising 100 exploration wells and over 350 development wells.
The company is planning to increase its gross crude oil production to about 2,35,000 barrels a day by the end of the current fiscal from 2,05,000 barrels a year currently. Oil fields in the Rajasthan block will increase about 30,000 barrels per day to about 2, 10,000 bpd from 1,75,000 bpd at present.
