Vedanta arm wins 10-year production sharing contract for Rajasthan block

Cairn Oil & Gas recently won eight oil blocks and one coal-bed methane (CBM) block under the DSF Round III bids, taking the company's total assets in the country to 62

oil, oilfield, exploration, prices, petrol, crude oil, drill, natural gas, production, ongc, vedanta, cairn
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Subhayan Chakraborty New Delhi
Cairn Oil & Gas, a Vedanta Ltd unit, has secured approval from the government to extend the production sharing contract (PSC) for its Rajasthan block for ten years until May 2030. The firm says this contract extension will spur capex investment and encourage private players entering the sector.

“This extension will be a key determinant in our goal of doubling production, and help India achieve energy atmanirbharta. Home to prolific fields, the bloc demands extensive investment in technologies to enhance recovery. The field also carries potential for new explorations," Prachur Sah, Deputy CEO, Cairn Oil & Gas said.

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First Published: Oct 27 2022 | 8:42 PM IST

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