RIL, Cairn to help raise oil output by 11% in FY'10 - NDTV.com

Private sector oil companies Reliance Industries and Cairn India will help push up India's crude oil production by 11 per cent to 36.7 million tonnes during the current fiscal, the Economic Survey said today.

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For a nation that is 75 per cent reliant on imports to meet its crude oil needs, the Krishna-Godavari basin deep-sea oil find by RIL, and Rajasthan's Barmer desert discovery by Cairn will for the first time in five years raise the domestic utput. "During 2009-10, the projected production for crude oil is 36.7 million tonnes, which is about 11 per cent higher than the actual crude oil production of 33.5 million tonnes in 2008-09," the pre-Budget statement on health of the economy said.

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