Group company Cairn Oil & Gas commits Rs. 50,000 Cr investment in exploration and production of oil and gas in the region

Cairn Oil & Gas, part of Vedanta Group, and India’s largest private Oil & Gas producer, committed to an investment in exploration and production of oil and gas worth Rs. 50,000 crores in the region on the opening day of Advantage Assam 2.0. – the state’s global investment conclave in Guwahati. The investment will provide for the establishment of world-class Oil & Gas E&P facilities in Assam, alongside extensive Corporate Social Responsibility (CSR) initiatives such as establishing more Nand Ghars (modernised anganwadis), expanding handloom skill centers, building digital classrooms for women and children, and promoting sports to ensure a brighter, more inclusive future for the Youth of the region.

Speaking at the summit, in the presence of the Hon’ble Prime Minister of India, Shri Narendra Modi, the Hon’ble Chief Minister of Assam, Dr. Himanta Biswa Sarma, and other dignitaries, Shri Anil Agarwal, Chairman – Vedanta, reinforced his company’s commitment towards the progress of the state.

He highlighted Assam’s strategic location, pro-investment policies and expanding infrastructure, as key factors to fuel India’s growth. He emphasised on the potential of the state to become a Mega basin, and India’s energy production hub. Calling Assam an attractive investment destination, he expressed his company’s commitment to play a pivotal role in the state’s long-term, sustainable growth.

Reflecting on Assam’s rich legacy as the birthplace of India’s oil industry, Shri Anil Agarwal, Chairman of Vedanta Limited said, “Assam is abundant in natural resources and has the potential to become world’s Mega basin. We are poised to play a pivotal role in Assam’s sustainable growth and development. With an investment exceeding Rs 50,000 crore, we will produce 100,000 barrels of oil and gas per day from Assam – making it a dominant hydrocarbon hub, while creating direct & indirect employment opportunities for 1 lakh youth.”

Vedanta’s focus goes beyond people. Through its operations in Assam, the company aims to protect biodiversity, preserve local culture, and produce energy to fuel the nation’s growth.

Cairn holds an acreage of 7650 km2 in the Arakan basin in Assam and its footprint includes a strategic portfolio of 15 exploration blocks, including 12 blocks under the Open Acreage Licensing Policy (OALP) and 3 Discovered Small Fields (DSF). The company has been producing from its Hazarigaon field in Assam since 2023, the 1st DSF block to go under production in North East. It has been supplying gas to the neighbouring Tea estates, giving a boost to tea production in the region and enabling farmers to switch from expensive coal-based energy sources to clean gas. The locally produced gas from the Hazarigaon field is also a prime contributor in fueling 100 CNG buses in Guwahati, supporting the clean energy initiative of the Government of Assam.

Cairn, in association with Assam State Livelihood Rural Mission (ASLRM) has been supporting women artisans in Assam through sustainable livelihood opportunities. With the launch of handloom centres, the company has provided financial independence to more than 3000 women.

This MoU will foster Assam’s position as an industrial and economic powerhouse, contributing significantly to India’s vision of becoming a global leader while reaffirming Vedanta’s role as a catalyst in Assam’s transformation and India’s industrial evolution.

About Cairn Oil & Gas

Cairn Oil & Gas, part of Vedanta Limited, is India’s largest private oil and gas exploration and production company, contributing about a quarter of India’s domestic crude production and driving energy security for the country. With a world-class resource base, Cairn has an interest in 62 blocks in India spread over 60,000 square kilometres with gross 2P (Gross Proved Plus Probable Reserves) and 2C (Gross Contingent Reserves) of 1.4 bn boe. Cairn has producing assets across Rajasthan, Andhra Pradesh, Gujarat, and Assam, and has spearheaded several technological innovations with high-reward prospects, over the last 30 years of its operations. The company has a vision to contribute 50% of domestic production, executing one of the largest exploration projects in India across its diversified portfolio comprising conventional and unconventional projects such as Tight Oil & Gas, Deep & Shallow Water, ASP and CBM, reinstating the faith in the country’s hydrocarbon potential.

Cairn is committed to achieving Net Zero by 2030 by prioritising environmental resilience and is driving transformative social impact at scale. It has become the first Indian company to sign the United Nations Environment Programme’s methane reporting and reduction initiative – OGMP 2.0.

About Vedanta Limited

Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into electronics and display glass manufacturing. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, has pledged Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India. Vedanta Ltd. ranked 3rd in the S&P Global Corporate Sustainability Assessment 2023, and has been listed in the Dow Jones Sustainability World Index. The company has also been certified as a Great Place to Work 2023. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

For more information, please visit www.cairnindia.com / www.vedantalimited.com