Vedanta's Oil & Gas operations comprise the assets of Cairn Oil & Gas in India and South Africa.
Cairn was rated as the fastest-growing energy company in the world, as per 2012 & 2013 Platts Top 250 Global Energy Company Rankings. The average gross production of Cairn Oil & Gas for FY 2015-16 was 203,703 barrels of oil equivalent per day (boepd).
One of the largest independent oil and gas exploration and production companies in India, Cairn has been operating for close to 20 years and is well positioned to reduce the country's energy import burden. Cairn has been playing an active role in developing India's oil and gas resources. To date, Cairn has opened 4 frontier basins with numerous discoveries, 38 in Rajasthan alone. The Mangala field in Rajasthan, discovered in January 2004, is the largest onshore oil discovery in India in more than two decades. Mangala, Bhagyam and Aishwariya fields – major discoveries in the Rajasthan block have gross ultimate oil recovery of over 1 billion barrels.
On 11 April 2017, Vedanta Limited announced the effectiveness of merger with Cairn India Limited, unanimously recommended by the independent directors, at both Vedanta Limited and Cairn India Limited. The merger marks a significant step towards achieving our long-term vision of a simplified group structure and creation of long-term sustainable value. Consolidating our portfolio of Tier-I assets, combined with strong management, will deliver superior returns for all shareholders and the combined entity is uniquely positioned to help unlock India’s wealth of world-class energy and mineral resources.
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Vedanta Limited-Oil and Gas