Pipeline solution by July
March 27, The largest onshore oilfield in India, in Rasasthan, Cairn India Ltd., said that it expects to find a solution for the evacuation of its crude oil from Rajasthan by June this year.
The government has designated Mangalore Refinery and Petrochemicals Ltd, which owns a 30 percent stake in Rajasthan fields and a subsidiary of Oil and Natural Gas Corp, as the buyer of Cairn’s crude oil from Rajasthan, but MRPL has expressed reluctance to lift the crude, claiming it is waxy. This has reportedly prompted Cairn, which went public late last year, to look for new buyers.
Bill Gammell, chief executive, Cairn India Ltd said that they continue to be focused on delivering the Rajasthan development and ensuring the upstream project remains on track to produce first oil in 2009.
Cairn India has aligned with its joint venture partner ONGC and intends to become an active participant in midstream activities with a view to optimising value from its exposure to the entire production and oil sales chain.
