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The inauguration of Cairn India's Mangala oil fields in Rajasthan was done by Prime Minister Manmohan Singh on Saturday.
The fields have been dedicated to the welfare of India by Dr. Manmohan Singh. Petroleum and Natural Gas Minister Murli Deora and Rajasthan Chief Minister Ashok Gehlot were present on the occasion.
The field will be yielding its maximum of 125,000 barrels per day by the first half of 2010.
Cairn India will be yielding an aggregate of 175,000 barrels per day, which is an aggregate from Bhagyam and Aishwarya fields along with the new field. This will contribute to 20% of India’s domestic production. This can satisfy the power needs of 3.4 million cars of 4.5 million cooking gas cylinders on a monthly basis.
India will be able to save $1.5 billion annually over the import bill over the next 10 years. The government will also be able to save $30 billion across the life of the field by way of taxes, royalties and profit petroleum.
