Cairn India plans to invest around $3.4 billion (approx Rs 16,000 crore) in developing the Bhagyam and Aishwariya fields in Barmer district of Rajasthan and in building up the marine export facility.
The company is likely to commence production from its Mangala field (Rajasthan) by next week.
Initially, the Mangala field is expected to produce 30,000 bpd and reach a capacity of 50,000 bpd by the fourth quarter. At peak the field is expected to produce 125,000 bpd which will be complimented by 40,000 bpd from the Bhagyam and 10,000 bpd from the Aishwariya fields.
Cairn is also constructing a 600-km heated pipeline to transfer the waxy crude from the three fields to coastal Gujarat. The government has nominated IOC, MRPL and Hindustan Petroleum's Vizag refinery to purchase crude from the company.
Source : ProjectsToday
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