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Cairn India, the country’s largest private oil and gas company, plans to invest $5 billion to increase production from 100,000 to 500,000 barrels per day, according to chairman Anil Agarwal. The company, a subsidiary of Vedanta Limited (NYSE: VEDL), is gearing up for aggressive expansion with new exploration and development projects.
Speaking at CERAWeek in Houston, Agarwal highlighted the company’s strategy to collaborate with U.S. service and engineering firms to strengthen its offshore operations. Cairn aims to drill several deepwater exploration wells next year, requiring 7 to 8 technical partners and the purchase of 5 to 6 drilling rigs.
The company also plans to develop 500 to 600 new wells and deploy at least 20 rigs to accelerate production. “I am willing to invest in engineering and rig companies because it will enhance our exploration capabilities in India,” Agarwal stated.
With India’s growing energy demand, Cairn is actively seeking partnerships with American companies to execute its ambitious plan. The investment aims to modernize operations and drive India’s self-sufficiency in oil production.
