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Cairn India seeks environment clearances to ramp up oil output in Rajasthan

29 Aug 2013 Evaluate

State run, Cairn India is looking for environment clearances to take the output from its Barmer oilfields in Rajasthan to 300,000 barrels a day of oil and gas. Currently, it has clearance to produce up to 200,000 barrels of oil equivalent both oil and gas and the fields are producing 180,000 barrels of oil per day and some gas.

The company had also applied to the Ministry for Environment & Forests seeking clearance for producing 300,000 barrels of oil equivalent and more from the RJ-ON-90/1 block. Other than environment clearance, it is also awaiting quick decisions on other pending approvals from the Ministry for Petroleum & Natural Gas and the State Government.

Cairn India is one of the largest independent oil and gas exploration and production companies in India. The company and its JV partners account for more than 20 percent of India’s domestic crude oil production.

Peers
Company Name CMP
ONGC 279.25
Oil India 454.40
Jindal Drilling&Inds 535.85
Deep Industries 457.70
Asian Energy Service 297.85
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