ONGC and Cairn commence oil production in Bhagyam field
ONGC and Cairn (Rajasthan JV) has commenced production from the Bhagyam field, which is the second largest of 25 discoveries made by Cairn in the Barmer Basin in Block RJ-ON-90/1. The commissioning is being seen as a key milestone towards achieving the target production rate of 175,000 bopd by end of 2011-12. The Mangala, Bhagyam and Aishwariya (MBA) fields have gross recoverable oil reserves and resources of approximately one billion barrels. The Rajasthan joint venture will contribute more than 20 per cent of current domestic crude production when they reach the currently approved plateau rate of 175,000 bopd. The Bhagyam reservoir and facilities will entail a gradual and safe ramp up to reach the currently approved plateau rate of 40,000 barrels of oil per day (bopd). “Our joint venture is well placed to further increase production from Rajasthan. Beginning of oil production from Bhagyam field is a significant step towards further development of the MBA fields. This underlines our continued commitment to the optimal development of the Barmer basin in Rajasthan and determination to create value for the people of Rajasthan as well as the country,” Mr. Sudhir Vasudeva, CMD, ONGC said.