(TH)
Cairn Oil and Gas, which is part of the Vedanta Group, has drawn up plans to spend over $ 1.1 billion in coming 18 months to improve the crude oil production from the Mangla, Bhagyam and Aishwarya fields in Barmer. The announcement comes at the heels of Cairn Oil and Gas completing a decade of operations at the Mangla Processing Terminal in Barmer on Thursday. “With implementation of Alkaline Surfactant Polymer (ASP) enhanced oil recovery, we aim to increase the recovery factor from 36 per cent to over 50 per cent. This means that we will be able to extract more than half the crude oil present in the fields,” said Ajay Kumar Dixit, Chief Executive Officer at Cairn Oil and Gas. Dixit told BusinessLine that the company is awaiting final approvals from the Ministry of Petroleum and Natural Gas to be eligible for getting the benefits under the policy announced for Enhanced Oil Recovery.
