- Reaffirms Vedanta Oil & Gas’ ambition to produce 500,000 barrels of oil equivalent per day
- Calls for accelerated exploration to unlock India’s estimated 300 billion barrels equivalent hydrocarbon resources
- Says reducing India’s nearly 90% dependence on imported oil and gas is critical to strengthening energy security and economic resilience
Marking Global Energy Independence Day, Vedanta reaffirmed its commitment to accelerating domestic oil and gas exploration, saying India has a historic opportunity to unlock its hydrocarbon resources and reduce its dependence on imported energy. It also reaffirmed Vedanta Oil & Gas’ ambition to produce 500,000 barrels of oil equivalent per day (boepd), positioning the company to play a pivotal role in India’s journey towards energy security.
Despite being one of the world’s fastest-growing energy markets, India currently imports nearly 90% of its oil and gas requirements, leaving the economy exposed to global supply disruptions and price volatility. The country possesses vast hydrocarbon resources of about 300 billion barrels equivalent of potential. Vedanta Oil & Gas – Cairn is committed to unlocking this vast resource base through accelerated exploration and enhanced oil recovery through the deployment of advanced technologies. Through sustained investment, India has the potential to strengthen energy security, reduce import dependence, generate high-quality employment and enhance industrial competitiveness.
Commenting on the occasion, Anil Agarwal, Chairman, Vedanta, said, 'Energy independence is a strategic economic imperative for India. Every barrel of oil and gas produced within the country strengthens our economy, reduces import dependence and enhances national resilience. India has abundant natural resources, world-class technical talent and entrepreneurial capability. Nearly 10% of the world’s oil and gas professionals are Indians, and this talent, combined with our vast resource potential, gives us a unique opportunity to transform India’s energy future. If we unlock our hydrocarbon resources responsibly, energy independence can become a powerful driver of economic growth, employment and Viksit Bharat.'
India remains significantly under-explored for hydrocarbons, with large prospective sedimentary basins yet to be systematically explored, highlighting the significant headroom for expanding exploration and domestic production.
India has opened large no-go areas in deep and ultra-deepwater blocks – in line with Prime Minister’s vision of National Deepwater Exploration Mission (Samudra Manthan) and investment opportunities worth $500 billion in its energy sector by the end of this decade.
Achieving long-term energy independence will require sustained collaboration between industry, entrepreneurs and technology innovators.
Anil Agarwal has consistently advocated for a 'green revolution below the ground' - one that responsibly unlocks India’s natural resources while creating jobs, strengthening domestic manufacturing and reducing reliance on imported energy. The company believes that accelerating exploration today will not only improve India’s energy security but also unlock long-term economic value for future generations.
Vedanta Oil and Gas has built one of India’s largest private upstream portfolios, with interests across 44 onshore and offshore blocks spanning nearly 47,000 sq kms across Rajasthan, Gujarat, Assam and Andhra Pradesh, covering both conventional and unconventional hydrocarbon resources. As India’s leading private oil and gas producer, the company remains committed to responsible operations, enhancing production efficiency and delivering sustainable growth.
About Vedanta Oil and Gas
Vedanta Oil and Gas is India’s leading private sector oil and gas exploration and production company, unlocking the nation’s hydrocarbon potential to strengthen energy security. Operating under the brand ‘Cairn’, the company holds interests in 44 blocks spanning over 47,000 sqkm of acreage across India, with gross 2P (proved plus probable) and 2C (contingent) resources of 1.4 bnboe. Its producing assets span key hydrocarbon basins in Rajasthan, Andhra Pradesh, Gujarat, and Assam, supported by technology-led exploration, advanced subsurface expertise, and world-class engineering capabilities. With a diverse portfolio of conventional and unconventional resources and a strong pipeline of upcoming growth projects, Vedanta Oil & Gas aims to significantly expand domestic production towards India’s energy security and economic growth. The company is committed to achieving Net Zero, advancing responsible energy development while creating sustainable value for the nation, communities, and shareholders.
Source: Vedanta OIl & Gas
