To strengthen its exploration and production portfolio, Cairn India is exploring opportunities to buy gas and oil blocks. The acquisitions would be funded by the earnings from its Rajasthan assets. The compnay targets to achieve 2,00,000 barrels of oil equivalent per day (boepd) by 2013-14 from the Rajasthan block.
By 2015-16, the company plans to spend $3 billion and is hopeful of a production of 2,25,000 boepd overall by 2013-14. Cairn has made a total investment of $4 billion in the Rajasthan block and has a current production of 1,78,000 boepd. Cairn has planned 450 exploration, appraisal and development wells by 2015-16, say media reports.