The government has given the green light for Cairn Oil & Gas, a Vedanta Ltd. subsidiary, to extend the production sharing contract (PSC) for its Rajasthan block for a further ten years, to May 2030. According to the company, this contract extension will encourage private companies to enter the market and increase capital investment.
“This extension will be a key determinant in our goal of doubling production, and help India achieve energy atmanirbharta. Home to prolific fields, the bloc demands extensive investment in technologies to enhance recovery. The field also carries potential for new explorations,” PrachurSah, Deputy CEO, Cairn Oil & Gas said.
The Rajasthan block is a significant national landmark and the site of several technological firsts. The field performed the largest jet-pump operation ever and was the first in the nation to use micro seismic hydrofrac monitoring equipment. The largest Alkaline Surfactant Polymer (ASP) project and the largest Enhanced Oil Recovery (EOR) polymer flood project are both located there.
