Cairn Expects Over 30,000 bpd of Oil from its West Coast Portfolio – CFO

Cairn Oil & Gas expects its volumes to reach 30,000 to 40,000 barrels per day (bpd) from its acreages in west India in the next two to three years, as it has won seven blocks — the highest among private players — in the recent Open Acreage Licensing Policy (OALP) bids, the company's CFO Hitesh Vaid said.

Among the blocks, four are onshore and three are shallow water blocks located in the hydrocarbon basins of Cambay, Saurashtra, and Mumbai.

Cairn currently produces around 8,000 to 9,000 barrels of crude per day from its existing blocks in the west.

“From a portfolio perspective, we are looking at building a robust west coast portfolio. Rather than (production) just being under 10,000 bpd, (we are expecting) it to give us 30,000 to 40,000 bpd,” said Vaid.

“The current production in the west is from two places, one is the Cambay shallow water field and the other is the Jaya field (in Gujarat),” he added.

With the recently won blocks, Cairn’s portfolio now spans 69 blocks covering over 73,000 square km across the country. The biggest private player in the exploration and production (E&P) sector, Cairn currently produces around 25 percent of India's oil.