Lower crude prices and the depletion of its producing fields reduced revenue at Cairn Energy, although the India-focused oil and gas group remained bullish on its prospects given the impending start of production from new oilfields in Rajasthan.

In the first half of 2009, Cairn produced 68,941 barrels of oil equivalent a day, down 15 per cent from 80,873 in the first half of 2008. Cairn is now producing oil and gas from only three fields, located in eastern India, north-western India and Bangladesh.