HOUSTON, March XX , 2025: Cairn Oil & Gas, part of Vedanta Group and India’s largest private oil and gas exploration and production company announced the commencement of a significant offshore development project on the West Coast of India through a Memorandum of Understanding (MoU) and Master Service Agreement (MSA) with 2H Offshore. The project, targeting an estimated ultimate recovery (EUR) of approximately 20 million barrels of oil equivalent (MMBOE), represents the largest development under the offshore Discovered Small Fields (DSF) blocks.

The block, designated CB-OSDSF-AMBE/2021, is one of the areas awarded to Cairn during the DSF- III auctions. Cairn holds a 100 percent participating interest in this block.

Cairn is partnering with 2H Offshore Engineering Sdn Bhd and 2H Offshore (Asia Pacific) Sdn Bhd for the integrated, end-to-end delivery of offshore platforms to develop the field. 2H Offshore is renowned for its proven track record and unique, adaptable mindset in optimising asset design through unconventional technology, ensuring timely and cost-effective project delivery.

As a key player in India’s energy landscape, Cairn currently contributes nearly 25% of the nation’s domestic crude oil production and has the vision to double this for securing India’s energy future through responsible and sustainable practices.

The partnership was signed in the presence of Vedanta Chairman Mr. Anil Agarwal, at the world’s most premier oil and gas conference CERAWeek 2025.

Hitesh Vaid, Chief Financial Officer, Cairn Oil & Gas, said, “This collaboration underscores our commitment to leveraging innovative solutions and expertise to develop our new fields. We are keen to work with 2H Offshore and are targeting the first hydrocarbon sales from this block by Q4 FY2027.”

David Walters, Global Director and VP, 2H Offshore, said, “Our integrated delivery through an EPC-M (Engineering, Procurement, Construction, and Management) model will ensure our partnership with Cairn brings the best of what we have to offer to develop their project on time and best-in-class.”

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 bnboe. 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 India’s domestic production, executing one of the largest exploration projects in the country 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 is 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

For any media queries, please contact:

Ms. Shivanjali Singh
Chief Communication Officer
Cairn Oil & Gas, Vedanta Ltd
Shivanjali.Singh@cairnindia.com