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Crain’s India to reach 200,000bpd by 2010

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Crain India, subsidiary of Crain energy Plc, an Edinburgh-based company may produce as much as 200,000 barrels of oil equivalent a day starting 2010 from fields in

India.

The company expects oil output from the Rajasthan oil fields to reach 150,000 barrels a day, a peak level that may be sustained for about seven years, Michael Watts director for exploration told reporters in Hyderabad. The planned output compares with India ‘s current production of about 660,000 barrels of oil.

“All our other projects are being overshadowed by Rajasthan,” Watts revealed. The company may earn revenue of $60 bn to $ 70bn from Rajasthan over the life of the field, he added. The company is drilling in Rajasthan; it expects the field to continue producing oil unit 2041.

“There can be other smaller discoveries in Rajasthan which can become commercial because Crain would have put in place pipelines and other facilities for the larger fields in the region”, Watts elaborated.

Crain, is also raising about $1.8bn from its share sale, plans to spend $1.5bn on developing on developing one billion barrels of reserves in four fields in India‘s western state of Rajasthan. The company has stakes in nine exploration and production areas in India and its partners include ONGC.

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Written by newzjockey

November 14, 2006 at 6:00 pm

Posted in Uncategorized

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  1. […] will provide you more links. ONGC Videsh Limited ::. The International Petroleum Company of India Crain’s India to reach 200,000bpd by 2010 Just NEWS The Hindu Business Line : Reliance to double KG Basin gas output Indian oil company invests […]


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