Cairn India discovers new oil field in Rajasthan

Indian oil explorer Cairn India has discovered a new oil and gas field in west India state Rajasthan's Barmer district. The newly discovered area is located approximately 1.5 km east of the Raageshwari 1 well which is a commercial and approved field development plan, according to media reports.

The newly found oil and gas field is located at a distance of around 480 km from Jaipur, the capital city of Rajasthan. The company got initial success on November 21 test, as it found credible clues of oil in the filed.

On November 24, the company reached total dept and produced API oil at a stabilized rate of 500 barrels of oil per day. In addition to that the there was production of 0.4 mmscfd gases from the site. The discovery would definitely help to reduce country's import bill and lower some burden of its foreign reserve kitty.