Cairn India to invest Rs. 1,200 cr in Rajasthan block.

Cairn India has signed up Halliburton Company, a US multinational, for a Rs. 1,200-crore contract to drill 100 wells at the Rajasthan onland block RJ-ON-90/1 over the next 18 months.

This will be Halliburton's first drilling contract in India. Halliburton is one of the world's largest oil field services companies with operations in more than 80 countries.

'Cairn expects Halliburton to begin drilling in a month or two,' said a senior official from an oil field services firm.

After protracted delays, Cairn India won approval to drill exploration wells in the block last year. In FY14, it brought on production a total of 129 wells. Oil and Natural Gas Corporation (ONGC) is Cairn India's 30 per cent joint venture partner in the Rajasthan block. Cairn and ONGC plan to drill 300 wells over the next three years, and 1,000 wells in five years.

BS