Cairn India Hopes to Raise Crude Output at Barmer Plans to increase output to 215k barrels a day from 180k by fiscal-end

Cairn India, the largest private oil producer and the operator of the country's biggest on-land oilfield, hopes to ramp up crude production in its Barmer block from 180,000 barrels per day to 210,000-215,000 bpd by the end of the current fiscal, chairman Navin Agarwal said on Wednesday. It plans to invest $3 billion in its energy assets in India, on developing the prolific Barmer block in Rajasthan, Agarwal said on the sidelines of the company's seventh annual general meeting held in Mumbai on Wednesday. 

The company's interim CEO P Elango said Cairn had sought the oil ministry's approval for an integrated field development plan for the block. "We are hopeful that it will be approved soon so that we can expedite production from the Barmer block," Elango said. 
Cairn produces over 150,000 bpd of oil from the Mangala fields, over 25,000 bpd from Bhagyam, and the balance from the Aishwarya fields which commenced production earlier this March. 
Cairn also reported a net profit of . 3,127 crore for the June quarter, which was 22% higher than the previous quarter, helped by its highest-ever gross operated production of 212,442 barrels of oil equivalent per day (boepd) and a record average daily production of 173,517 boepd from the Rajasthan block during the quarter. The company posted revenue of . 4,063 crore and EBITDA of . 2,910 crore. 
It also said that in its offshore Ravva Block, a 'high value, high risk' deeper prospect is planned to be drilled in H2 FY13-14 to optimally harness the potential of the block and in the off-shore Cambay Block (CB/OS-2), two new wells and one work-over well have been put into production leading to doubling the oil volumes during the quarter.