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Source: www.gulfoilandgas.com 1/19/2009, Location: Asia
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The attached release was issued today by Cairn India Limited to the Bombay Stock Exchange and the National Stock Exchange of India.The Government of India (GoI) has approved a further Declaration of Commerciality (DoC) on the Rajasthan licence RJ-ON-90/1 in North West India.
The DoC for the three discoveries made in Kameshwari West 2, 3 and 6 has been approved, along with a new Development Area of 822 km2 which was part of the Northern Appraisal Area.
The Kameshwari West 2 and 3 discoveries have opened up a new play in the Barmer Hill/Lower Dharvi Dungar sands on the western margin of the Rajasthan basin.
Cairn and its joint venture partner ONGC now have 3,111 km2 under long term contract on the Rajasthan licence of which the main Mangala Field Development Plan (FDP) covers 1,859 km2 while the Bhagyam FDP covers 430 km2.
Rahul Dhir Managing Director and Chief Executive Officer of Cairn India said:
“Cairn India is delighted to have secured the approval for ‘Declaration of Commerciality’ of this area from the Government of India. It will enable us to develop the discoveries and access the area for further exploitation of additional resources. We strongly believe that the Rajasthan basin is world class and will continue to add incremental value.”
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