Cairn to invest $1.1 billion in Barmer oil fields

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Published: August 29, 2019 4:57:29 AM

“The ASP projects is the result of seven years of research and the pilot study has recently been concluded in March, 2019,” said Ajay Kumar Dixit, CEO, Cairn Oil and Gas. “It will also increase the recovery factor to more than 50% from the current level of 36%,” Dixit said, while elaborating on the prospects of the plan, which the company terms as the “biggest ASP project in the world”.

Cairn,Barmer oil fields, Cairn Oil and Gas, Vedanta, Aishwarya oil fields, barmer district, Rajasthan“It will also increase the recovery factor to more than 50% from the current level of 36%,” Dixit said, while elaborating on the prospects of the plan, which the company terms as the “biggest ASP project in the world”. (PTI photo)

Eyeing incremental production from its production flagship Mangala, Bhagyam and Aishwarya oil fields in Rajasthan’s Barmer district, Cairn Oil and Gas – a subsidiary of Vedanta – has decided to invest $1.1 billion in these wells. The money would be used to implement the ‘alkaline surfactant polymer’ (ASP) technology, which is expected to ramp up output from these wells by as much as one lakh barrels per day (bpd). Currently, these fields produce around 1.4 lakh bpd.

“The ASP projects is the result of seven years of research and the pilot study has recently been concluded in March, 2019,” said Ajay Kumar Dixit, CEO, Cairn Oil and Gas. “It will also increase the recovery factor to more than 50% from the current level of 36%,” Dixit said, while elaborating on the prospects of the plan, which the company terms as the “biggest ASP project in the world”.

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Cairn is waiting for the petroleum ministry to identify the ASP project under the enhanced oil recovery (EOR) policy. In September last year, the Cabinet had approved the EOR policy framework to promote and incentivise new methods of oil production from existing hydrocarbons reserves for augmenting domestic production of oil and gas.

(Travel for this report was sponsored by Cairn Oil and Gas-Vedanta)

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