• The block CB-ONHP-2017/2 is one of the 41 areas awarded to Cairn in OALP-I auctions
• Gas and condensate discovery ‘Jaya’ was notified and is one of the initial discoveries for the country under Open Acreage Licensing Policy (OALP)
• Jaya will be the first FDP under OALP / HELP regime
• The company holds 100 per cent participating interest in the block

New Delhi, 11th January 2024: Cairn Oil & Gas, part of Vedanta Ltd., and India’s largest private oil and gas exploration and production company, notified gas and condensate discovery of Jaya in its onshore OALP block in the Bharuch district of Gujarat in August 2021. Through exploration and appraisal successes, Cairn has now submitted a Field Development Plan (FDP) to produce >2,000 boepd initially. This field has the potential to contribute to the company’s goal of doubling production capacities and driving energy aatmanirbharta for India. This will be the first FDP submitted in OALP regime, among 144 blocks awarded under 8 OALP rounds by the Government to various companies.

Announcing this key milestone, Dr. Steve Moore, Deputy CEO, Cairn Oil & Gas, Vedanta Ltd. said, “We are delighted to have progressed to Jaya discovery to its FDP and ready to begin production from Jaya block. At Cairn Oil & Gas, driving new exploration is a key pillar as we strive towards our goal of achieving 50% contribution to India’s domestic oil and gas production. This block in Gujarat was one of the initial discoveries for Cairn under India’s Open Acreage Licensing Policy (OALP), and we believe it will contribute to India’s energy requirements.”

Jaya field during its appraisal phase started test gas evacuations in an innovative manner through truck-mounted Compressed Natural Gas (CNG) kits providing CNG to nearby gas stations. This is the first-of-its-kind facility where sales through a CNG cascade system is being done by an E&P operator from an exploration well. It has enabled Cairn to minimise gas flaring in line with its decarbonization vision while allowing appraisal. This gas sales through cascading served the dual aim of monetising gas as well as fulfilling the nation’s energy requirements.

Cairn has signed a commercial gas sales agreement for gas off-take.

Cairn has utilised Advanced Rock Physics and Seismic Inversion technology to predict subsurface sweet spots in and around the Jaya area. A cluster of prospects has been identified which can be developed through tieback to the Jaya facility.

Through the FDP for Jaya, Cairn has nurtured a new asset in the western region that will support holistic economic and sustainable development. New exploration and production will continue to be the benchmarks of Cairn’s operations to drive energy security for India.

About Cairn Oil & Gas

Cairn Oil & Gas, part of Vedanta Limited, is India’s largest private oil and gas exploration and production company, contributing more than a quarter of India’s domestic crude oil production and driving energy security for India in a sustainable and responsible way.

With a world-class resource base, the company has an interest in 62 blocks in India covering a total acreage of more than 61,114 square kilometres with gross 2P (Gross Proved Plus Probable Reserves) and 2C (Gross Contingent Reserves) in excess of 1.1 bn boe. A pioneer in exploration and production, Cairn has spearheaded technological innovation with high-reward prospects. The company has producing assets across Rajasthan, Andhra Pradesh, Gujarat, and Assam. Over the last 30 years, Cairn has opened four frontier basins with numerous discoveries. The company is executing the largest exploration project in India with 46 simultaneously explored project blocks reinstating the faith in India’s hydrocarbon potential.

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, 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 semiconductors and display glass. 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. has been listed in Dow Jones Sustainability World Index 2022, conferred Golden Peacock Award for excellence in Corporate Governance 2022 and 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.vedantalimited.com

For any media queries, please contact:
Ms. Ritu Jhingon, Group Director – Communications, Ritu.Jhingon@vedanta.co.in
Mr. Mukul Chhatwal, Group Head – PR & Media Relations, Mukul.Chhatwal@cairnindia.com
For more information, please visit www.cairnindia.com / www.vedantalimited.com