Prime Minister Manmohan Singh is expected to inaugurate later this month Cairn India’s Rajasthan oil fields, sources said on Wednesday.
The company has already reached pricing agreements with principal buyers, Indian Oil Corp and Mangalore Refinery and Petrochemicals Ltd.
The production from Cairn India’s fields is expected to bring down the country’s oil import bill by USD 6.8 billion or 7 per cent, according to Goldman Sachs.