The government has signed an agreement with Cairn Oil & Gas, the largest private oil and gas exploration and production business in India and a division of the Vedanta Group, for eight oil and gas fields as part of the Discovered Small Field (DSF) bid round-III.
Production operations will be made possible further by the contract confirming these blocks.
Cairn Oil & Gas got eight blocks, five of which are offshore (Cambay off, Kutch off, Mumbai off, and KG off), and three of which are onshore (two in Assam, and one in Madhya Pradesh). Eighty-four mmboe of crude oil is anticipated to be produced by these fields over the following 10 to 20 years.
A contract for the exploration, development, and monetization of conventional and unconventional hydrocarbon resources from a single Coal Bed Methane (CBM) block has also been inked by the company.
