17th Sep 2014 08:30
LONDON (Alliance News) - Vedanta Resources PLC Wednesday said its Cairn India Ltd subsidiary has announced three new oil discoveries in the Rajasthan block.
Cairn said it had made three new discoveries at Block RJ-ON-90/1 in the Rajasthan licence, bringing the total number of discoveries in the block so far to 36.
Well DP-1 encountered a 70 metre gross oil bearing interval in the Barmer Hill formation at the site. After fracking and testing, the well is flowing oil at 120 barrels per day. The discovery is significant, according to Cairn, due to its proximity to the Mangala oil field.
Saraswati SW-1 was tested in a Mezozoic sand interval and flowed oil at 248 barrels per day, Cairn said. The Aishwariya-46 well flowed 182 barrels per day in the Dharvi Dungar formation, Cairn said.
Vedanta shares were up 0.3% to 1,052 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Vedanta Resources