We’ll be in Rajasthan even after 2051: Rahul Dhir, CEO Cairn India
What makes Rajasthan special?
It is a big resource base. In geologic terms, it is a basin. There are likely to be multiple sources of hydrocarbons. And we are in early stages of discovering it. That makes it special – it is a very prolific resource. We expect many more discoveries. Second thing is we have discovered a lot of oil that needs to be now produced. For us, the big focus is to say we have found all this oil, how can we get as much of it out as cost-effectively as possible. Rajasthan is not only about finding more oil, which we will, but also about applying technology to take out as much of it as possible. There is no other place in the world where I can say with certainty that I am going to find a 200 million barrel oil field. Here I know I have 400 million barrels of oil – if I just take out 20 per cent of that oil – that amounts to 80 million barrels. That’s the scale of opportunities here. The 600 km insulated pipeline is expetced to be completed by 2010
What is the quantum of oil that you are looking at?
If we look at Fatehgarh that is two billion barrels – if we get 50 per cent out, we get a billion barrels out. And there is at least 1.5 billion in all the other discoveries. Of this, (as of now) we are only developing around 700 million.
How much time do you give yourselves in Rajasthan?
Three years ago, when I came here we had an idea that the economic life of the field would be till 2041. But now we think we have not seen the end of economic life until 2051. And that is based on what we know. New discoveries will add more years to the field. So we may be here for several years after that depending on what we find. Look at Gujarat, 55 years after oil was first discovered, it is still producing 100,000 barrels a day and 18,000 barrel-oil equivalent gas. I can only say I don’t know how long we will be here. But there is enough here to keep us going for a lifetime!
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