Cairn India may start oil field by end-May

Cairn India may start oil field by end-May
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First Published: Thu, May 21 2009. 11 39 PM IST
Updated: Thu, May 21 2009. 11 39 PM IST
New Delhi: A unit of UK- based explorer Cairn Energy Plc, Cairn India Ltd, may start producing crude oil in Rajasthan as early as this month before its partner resolves a royalty dispute with the Union government, an official said.
Cairn India is close to agreeing on the price of the oil with refiners who we have nominated, R.S. Pandey, secretary in the ministry, said in an interview in New Delhi.
A dispute over future royalty payable by state-owned Oil and Natural Gas Corp., a 30% stakeholder in the field, isn’t a hurdle and will be resolved once Prime Minister Manmohan Singh’s new cabinet takes office, Pandey said.
Cairn India lost 1.08% to close at Rs220.25 on the Bombay Stock Exchange.
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First Published: Thu, May 21 2009. 11 39 PM IST