• With new technology intervention, the recoverable reserve at Bhagyam – a field of the prolific Barmer site – is expected to go up from 45 mmboe to 250 mmboe
• This is a step in Cairn’s commitment to double capacity and contribute 50% to domestic crude production
• The partnership was confirmed at ADIPEC 2021, currently being hosted at Abu Dhabi – one of the largest conglomerations of the oil and gas sector

Abu Dhabi, 17 November 2021: Cairn Oil & Gas, India’s largest private oil and gas exploration and production company, has entered into a partnership with Baker Hughes at the ongoing ADIPEC 2021 – one of the largest conglomerations of the oil and gas sector – currently being held at Abu Dhabi. Under this alliance, Cairn will aim to increase its recoverable reserve to 250 mmboe from the present 45 mmboe. This announcement follows the company’s commitment of doubling capacity to produce 50% of India’s domestic crude and assisting the country in its journey towards energy Aatmanirbharta.

Speaking at the occasion, Prachur Sah, CEO, Cairn Oil & Gas, said: “Increasing recovery and production from existing fields, new hydrocarbon explorations and opting for unconventional fuels are our strategic levers as we move towards doubling our production capacities. We have been emphasizing on the need to introduce fresh technology to augment production from old and ageing fields that today comprise ~90% of India’s capacities. Baker Hughes is a global leader of energy technology and with this partnership, we have taken another step towards increasing our capacities to 500 kboepd.”

The partnership will unfold across three distinct phases including technical assistance and conceptual design, detailed technical evaluation and pilot execution, and full field development planning and execution.

Cairn has been pioneering technology in its fields across the country. The Mangala field in Rajasthan is home to a full-field Enhanced Oil Recovery (EOR) polymer project that is among the largest of its kind in the world, Also, a large Alkaline Surfactant Polymer (ASP) project is currently under design to be executed in the next few years. The field also marks the starting point of the Mangala pipeline – the world’s longest continuously heated and insulated pipeline that carries crude from the fields of Rajasthan to the refineries of Gujarat. The Ravva field, India’s first offshore asset, is home to India’s first TCP balance under-perforating with multilane compilation technique, which has granted access to multiple reservoirs from the same bore, improving recovery and asset reservoir management.
This new partnership is another step in Cairn’s endeavour to achieve energy autonomy for India.

 
About Cairn Oil & Gas, Vedanta Ltd.

Cairn Oil & Gas, Vedanta Ltd., is the largest private oil and gas exploration and production company in India, accounting for more than a quarter of India’s domestic crude oil production. It has a world-class resource base, with a current interest in 58 blocks in India, including the 41 blocks under the Open Acreage Licensing Policy (OALP) Round I auction, five blocks each under Round II and Round III, and two awarded under the Discovered Small Fields (DSF) Round-II. In 2004, Cairn made the largest onshore discovery in more than two decades in India at Mangala, Rajasthan. In its operations of 20 years, Cairn has opened four frontier basins with numerous discoveries, 38 in Rajasthan alone.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. 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. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies company have been featured in Dow Jones Sustainability Index 2020, and was conferred Frost & Sullivan Sustainability Awards 2020, CII Environmental Best Practices Award 2020, CSR Health Impact Award 2020, CII National Award 2020 for Excellence in Water Management, CII Digital Transformation Award 2020, ICSI National Award 2020 for excellence in Corporate Governance, People First HR Excellence Award 2020, ‘Company with Great Managers 2020’ by People Business and certified as a Great Place to Work 2021. Vedanta’s flagship Nand Ghar Project was identified as best CSR project by Government of Rajasthan. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

Vedanta Limited (Cairn Oil & Gas business) has also recently reiterated that it is a separate entity with no connection to Cairn Energy PLC, the Scottish oil and gas exploration company. The brand name ‘Cairn’ is now exclusively owned by Vedanta Limited and all others will discontinue the use of the brand name ‘Cairn’.

For more information, please visit www.vedantalimited.com/www.cairnindia.com

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