+
Cairn Plans $4 Bn Investment in Upstream Ventures over Next 3-4 Years
OIL & GAS

Cairn Plans $4 Bn Investment in Upstream Ventures over Next 3-4 Years

Cairn Oil and Gas, a division of the Vedanta Group, plans to invest $3-4 billion in the upstream sector over the next three to four years to expand its business and drive growth. In the previous year, the company invested approximately $400 million in its fields, wells, and expansion activities. The upcoming investments will focus on initiatives such as Alkaline-Surfactant-Polymer (ASP) flooding expansion, tight oil projects, deepwater exploration, and shale development.

Cairn holds a substantial portfolio of onshore blocks and is actively working to expand its presence in offshore regions by acquiring more deepwater blocks. The company aims to contribute 50 per cent of India’s domestic energy production, doubling its current contribution of 25 per cent. Cairn’s portfolio consists of 62 blocks covering an area of 60,000 square kilometre, with five blocks under production and the rest in the exploration phase.

Cairn is in the process of demerging from its parent company, Vedanta, to become a separately listed entity. The oil and gas business is self-funded, with approximately 40 per cent of Vedanta’s total capital expenditure allocated to Cairn.

The company is also targeting the Northeast region of India for future growth, with significant potential identified in its onshore blocks. Cairn plans to commence production from at least two to three wells in this region in the fiscal year 2025-26.

With recent amendments to the Oilfields Regulation and Development Act, Cairn anticipates increased participation from foreign players in the Indian upstream market, potentially partnering in its hydrocarbon blocks. Additionally, the company is addressing output decline from matured fields, particularly in Rajasthan, where it has already produced around 800 million barrels and aims to extract up to 55 per cent of the estimated 2.2 billion barrels.

Cairn is also diversifying into coal bed methane exploration, having acquired a CBM block with operations set to commence within the next eight to ten months.

News source: Financial Express

Cairn Oil and Gas, a division of the Vedanta Group, plans to invest $3-4 billion in the upstream sector over the next three to four years to expand its business and drive growth. In the previous year, the company invested approximately $400 million in its fields, wells, and expansion activities. The upcoming investments will focus on initiatives such as Alkaline-Surfactant-Polymer (ASP) flooding expansion, tight oil projects, deepwater exploration, and shale development. Cairn holds a substantial portfolio of onshore blocks and is actively working to expand its presence in offshore regions by acquiring more deepwater blocks. The company aims to contribute 50 per cent of India’s domestic energy production, doubling its current contribution of 25 per cent. Cairn’s portfolio consists of 62 blocks covering an area of 60,000 square kilometre, with five blocks under production and the rest in the exploration phase. Cairn is in the process of demerging from its parent company, Vedanta, to become a separately listed entity. The oil and gas business is self-funded, with approximately 40 per cent of Vedanta’s total capital expenditure allocated to Cairn. The company is also targeting the Northeast region of India for future growth, with significant potential identified in its onshore blocks. Cairn plans to commence production from at least two to three wells in this region in the fiscal year 2025-26. With recent amendments to the Oilfields Regulation and Development Act, Cairn anticipates increased participation from foreign players in the Indian upstream market, potentially partnering in its hydrocarbon blocks. Additionally, the company is addressing output decline from matured fields, particularly in Rajasthan, where it has already produced around 800 million barrels and aims to extract up to 55 per cent of the estimated 2.2 billion barrels. Cairn is also diversifying into coal bed methane exploration, having acquired a CBM block with operations set to commence within the next eight to ten months. News source: Financial Express

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?