Date:19/01/2005 URL: http://www.thehindubusinessline.com/2005/01/19/stories/2005011902100400.htm

Back IOC may process crude from Rajasthan

Our Bureau

New Delhi , Jan. 18

THE Petroleum Ministry has nominated Indian Oil Corporation (IOC) to take the crude oil found in Barmer district of Rajasthan and options of laying pipeline to its refineries were under evaluation, Mr Mike Watts, Director (Exploration), Cairn Energy, said at the NELP-V roadshow, organised at the ongoing Petrotech 2005 conference.

IOC's Panipat refinery in Haryana was the most "favoured refinery" for processing the oil produced from the Rajasthan field. IOC's Koyali refinery in Gujarat was also a possible destination for 80,000 to 100,000 barrels per day of crude oil planned to be produced from Mangala and Aishwariya oilfields in Rajasthan by the end of 2007 or early 2008, he said.

The roadshow was organised to attract investment in the 20 oil and gas blocks being offered for bidding under the fifth round of New Exploration Licensing Policy (NELP).

Out of the 55 wells drilled by Cairn Energy in Barmer Basin, 11 have led to discoveries. The RJ-oN-90/1 block, where Cairn has 70 per cent stake and Oil and Natural Gas Corp the remaining 30 per cent, holds a potential of 400 million to 1.25 billion barrels.