The tenure of the RJ Block PSC is due to expire on 14th May, 2020. The tenure of the RJ Block PSC has been extended for an additional period of 10 years with effect from 15th May, 2020. Such extension has been granted by the GoI, pursuant to its policy dated 7th April, 2017 for extension of Pre-New Exploration Licensing Policy (“Pre-NELP”) Exploration Blocks PSCs signed by the GoI (the “Pre-NELP Extension Policy”), subject to certain conditions. The applicability of the Pre-NELP Extension Policy to the RJ Block PSC is currently sub judice.
 

About Cairn Oil & Gas

Cairn Oil & Gas, a vertical of Vedanta Limited, is one of the largest independent oil and gas exploration and production companies 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 46 blocks in India, including the newly awarded 41 blocks under the Open Acreage Licensing Policy (OALP) Round I auction. In 2004, Cairn made the largest onshore discovery in more than two decades in Mangala, Rajasthan. In its operations of 20 years, Cairn has opened 4 frontier basins with numerous discoveries; 38 in Rajasthan alone.

Cairn is part of the Vedanta Resources Limited, the world’s sixth largest diversified natural resources conglomerate with interest in oil and gas, zinc-lead-silver, copper, iron ore, aluminium, and commercial power. The company has a presence across India, South Africa, Namibia, Australia, and Ireland. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and environment, and on enhancing the lives of local communities. The company has been conferred the Confederation of Indian Industry (CII) “Sustainable Plus Platinum” label and ranks among the top 10 most sustainable companies in India.