Cairn India Ltd has invited bids from oilfield service providers for integrated development of its main MBA fields in the Rajasthan block.
According to a PTI report, Mangala, Bhagyam & Aishwariya (MBA) fields, the prime among over two dozen oil and gas discoveries in the Rajasthan block, have seen output stagnating at about 150,000 barrels of oil per day.
Cairn, which is now called Vedanta Ltd after its merger with the parent firm, wants service providers to do an integrated development of the field with a view to raising production above the present levels, it said.
It however wants the companies to share the risk and will pay them the cost of their service plus a bonus if the production rises above an agreed base level.
Image credit: thehindubusinessline.com
