British energy firm Cairn Energy Plc has again struck oil in Rajasthan, its ninth discovery in the state in the last two years.
The company has found 300 million barrels of in-place oil reserves in northern Rajasthan with the N-V-1 exploration well, which is located 18-km west-north-west of the gigantic Mangala field, company officials said.
N-V-1, the fourth discovery Cairn has made in the northern region of the 5831 sq km Block RJ-ON-90/1, lies 19-km west-south-west of the N-C discovery, and is in close proximity to the existing north-western boundary of the block.
The British firm had struck 450 million to 1.1 billion barrels of in-place oil reserves in Mangala, of which 50 to 200 million barrels are estimated to be recoverable reserves. 400 million barrels of in-place oil reserves were found in the N-C-1 exploration well.
In the block's southern region, Cairn had found Saraswati, Raageshwari and Guda among others.
"With the latest discovery, we expect production of close to 3 million tonnes of crude oil annually from the Rajasthan block," they said.
