Cairn India has discovered oil and gas by the Raageshwari field in block RJ-ON-90/1, where the season’s first exploration well pre-empted development drilling at Mangala, a find that changed company fortunes.

The the Raageshwari East 1/1Z well struck through 10 metres of net oil pay but found crude through 81m of sandstone below 1,425m. An open hole drill stem test flowed 40 degree API oil at 500 barrels of oil per day.

“The success of this well on the eastern flank of the Raageshwari structure extends the productive reservoir in a new trapping style and proved a deeper oil column,” a statement said.

Development options area already being discussed for the Raageshwari East discovery, as field studies are organized.

Cairn Energy holds 65 percent of Cairn India after an abrubt float of its Indian business in 2007. Cairn attracted the attention of Indian authorities after its major oil strike at Mangala in in the northwest province of Rajasthan in early 2004. Over 20 discoveries have been made in Rajasthan block RJ-ON-90/1 since then.

Now, Cairn India produces 50,000 barrels of oil equivalent per day of India’s 700,000 bopd. India imports 2,000,000 bopd.

Tags: Cairn Energy PLC