India’s largest private oil and gas exploration and production company Vedanta Ltd., has secured approval from the Ministry of Petroleum& Natural Gas to extend the production sharing contract for its Rajasthan block for ten years until May 2030.
Prachur Sah,Deputy CEO, Cairn Oil & Gas said, “This extension will be a key determinant in our goal of doubling production capacities and helping India achieve energy aatmanirbharta. Home to prolific fields. We are firm in our overall vision of contributing 50% to India’s domestic crude production by committing an investment of USD 5 bn and achieving production of 500,000 barrels of oil equivalent per day (500 kboepd).”
It is also home to the world’s largest Enhanced Oil Recovery polymer flood project and Alkaline Surfactant Polymer project.The field also marks the starting point of the Mangala pipeline – the world’s longest continuously heated and insulated pipeline. Vedanta recently won 8 oil blocks and one Coal-Bed Methane block under the DSF Round III bids, These gains have been in line with the company’s aim to double capacities by taking the company’s total assets in the country .www.cairnindia.com / www.vedantalimited.com
