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Musharraf pledges for permanent solution to Kashmir

     Manila: The President of Pakistan, General Pervez Musharraf, pledged on Wednesday to come up with a permanent solution to the Kashmir dispute with India. Musharraf, on the third and last day of visit to the Philippines, said Pakistan has placed priority on finding an enduring solution to decades old dispute over Kashmir. "In conflict resolution the main issue is resolving Kashmir. Here, Prime Minister Manmohan Singh and I have both agreed we need number one the sincerity of approach, number two of flexibility to fall back, may I say, from maximalist positions," Musharraf said. Musharraf told a foreign media forum on Wednesday that Pakistan would stop militants from attacking bus services across the LoC, urging the two sides to initiate more confidence building measures (CBMs) to move forward the peace process. "So we have agreed that we need flexibility to reach an agreement and lastly there are extremists on both sides who will not allow any solution or will oppose any solution. Therefore we need courage and boldness to, well once resolution is decided to follow it up to final agreement," he said. The Pakistani leader said he wants to correct the misconceptions about his country, rejecting labels that Islamabad was a coddler of Muslim militant groups and had even helped organise Osama Bin Laden's Al Qaeda network. He said Pakistan was also willing to provide intelligence training as part of the expanding counter-terrorism cooperation between the two countries.

Kuwait women get voting right (Go To Top)

     Kuwait: Kuwait's parliament approved a law to allow women to vote and run for the first time in municipal elections, fuelling hopes for wider female suffrage. "The National Assembly approves women's participation in the Municipal Council elections," the Dawn quoted KUNA as saying. Kuwaiti women are not allowed to vote or run in parliamentary polls but the government has introduced a bill to grant full female suffrage that has yet to be approved by the 50-man house.

Cairn estimates 500 m barrels oil reserve in Rajasthan (Go To Top)

     New Delhi: Cairn Energy of UK now estimates recoverable reserves of 500 million barrels of oil at the Mangala, Bhagyam and Aishwariya oilfields in Rajasthan based on using water flooding recovery methods. The company's new forecast is double of previous assessment. "The company can produce upto 150,000 barrels per day by 2007- end, 50 per cent more than the previously estimated 100,000 barrels per day" Cairn Energy said in a press statement. The new production estimates are more than half of what India's largest oilfield, "Mumbai High" produces. Meanwhile, the company has again struck oil in the northern part of the Rajasthan block. The well N-C-1, north of historic Mangla oils discovery in the sale block, is estimated to have 400 million barrels of oil reserves, company officials said. "I am pleased to announce our third exploration success in the northern part of the Rajasthan block, where we have three active drilling rigs with a fourth on the way," Cairn Energy chief executive Bill Gammell said.

    The Cairn Energy chief said the company could yet add another 148 million barrels to the tally if enhanced recovery techniques are successful. Cairn Energy is currently involved in an extensive exploration and appraisal programme across 5,000 square kilometres onshore exploration block (RJ-ON-90/1) in the Rajasthan basin. Cairn holds a 100 per cent interest in block RJ-ON-90/1. State-owned Oil and Natural Gas Corporation (ONGC) has a right to 30 per cent of any development area resulting from a commercial discovery on the block. Assuming at a 40 dollars per barrel price of oil, a 100,000- barrel per day production rate would mean 1 billion dollar per year net cash flow to Cairn. According to the company sources independent assessments put total oil reserve at the three oilfields in Rajasthan at 1.64 billion barrels. Meanwhile, Cairn shares soared more than 15 per cent higher on the London Stock Exchange. Its shares were more than doubled in 2004 on news of oil strikes in the area.

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