Cairn hikes daily crude production in Rajasthan by 8%: Srcs

Oil and gas explorer Cairn India has hiked its daily crude production from Aishwarya and Bhagyam fields in its Rajasthan block by 8 percent, CNBC-TV18 learns from sources.

The company’s crude oil production has now risen to 190,000 bpd from 176,000 bpd. It is further learnt that the company is on track to meet its production guidance of 215,000 bpd by FY14-end. However, Cairn India has declined to comment on this development.

Analysts were apprehensive a few months back on whether the company will be able to achieve its FY14 production target due to slowdown in Mangla fields, but it seems that the company will be able to overcome it.

The Rajasthan block, RJ-ON-90/1, is spread over 3,111 km2 in the Barmer district. Cairn India is the operator with 70 percent participating interest. Its joint venture partner, ONGC, has the remaining 30 percent participating interest.