Cairn India (CAIRN) is engaged in the business of exploration and production of oil and gas. It was incorporated on Aug. 21, 2006 and went public in January 2007. Cairn Energy PLC, a crude oil and natural gas exploration and production firm listed on the main market of the London Stock Exchange, currently holds 69% interest in Cairn India.
The Cairn India group has made 30 hydrocarbon discoveries since 1994 including three of the seven landmark discoveries made in India between 2000 and 2005. The company is currently focused on exploration and production in India where it has a working interest in 15 blocks, two of which are producing hydrocarbons.
The company holds material exploration and production positions in west India and east India along with new exploration rights elsewhere in India. It made a major oil discovery (Mangala) in Rajasthan in the north west of India early in 2004. More than 20 discoveries have been made in Rajasthan block RJ-ON-90/1. In Rajasthan, the company operates Block RJ-ON-90/1 under a production sharing contract signed on May 15, 1995. It raised the expected output of its Mangala field in Rajasthan by 25% to 125,000 barrels of crude oil a day.
The Mangala field is part of the RJ-ON-90/1 block in which Cairn is the operator and holds 70% interest. ONGC holds the remaining 30%. Cairn is confident of achieving first oil from the field in the second half of 2009. The main development area covering 1,858 Sq. Km. includes Mangala, Aishwariya, Saraswati and Raageshwari. A further development area covering 430 Sq. Km., including the Bhagyam and Shakti fields, is also shared between Cairn India and ONGC in a 70:30 proportion. The registered office is located at 101 West View, Veer Sawarkar Marg, Prabhadevi, Mumbai-400025.
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