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Cairn Oil & Gas to spend $4 billion, aims 3 times production increase

As high prices make investments attractive, firm charts plan for next 3 years

Prachur Sah, Deputy CEO, Cairn
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Prachur Sah, Deputy CEO, Cairn

Debjit Chakraborty | Bloomberg
Cairn Oil & Gas, a unit of Vedanta Ltd., will spend $4 billion over the next three years to more than triple its production, as high prices make investments attractive.

The country's biggest non-state producer, controlled by billionaire Anil Agarwal, plans to drill more wells to explore new oil and gas reserves across its 51 blocks in the country, Prachur Sah, deputy chief executive officer of Cairn, said in an interview to Bloomberg TV on Friday.

“Our target is to reach half a million production in a very short time by doing these investments,” he said. “This investment is not just a