News: Cairn to invest $760 m in India
(ACERC 28/03/2006) Mumbai - Britain's Cairn Energy will invest $760 million in two years for oil exploration and production activities in India. The company has also allotted $560 million for its Rajasthan operations.
The risk capital of $200 million will also be invested in the various oil and gas assets across the country.
Couple of weeks ago, Cairn had announced that it was considering a part float for funding its exploration and production activities in India. This public issue is expected to hit the capital market by 2008, before its main Mangala field in Rajasthan begins production.
Sources said the amount to be raised would be determined by the then prevailing market conditions.
The risk capital of $200 million will also be invested in the various oil and gas assets across the country.
Couple of weeks ago, Cairn had announced that it was considering a part float for funding its exploration and production activities in India. This public issue is expected to hit the capital market by 2008, before its main Mangala field in Rajasthan begins production.
Sources said the amount to be raised would be determined by the then prevailing market conditions.
posted by InCar Group Press Room at 17:51
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