Plans afoot to triple output: Cairn

CAIRN OIL & GAS, part of Vedanta Group, is aiming to increase its hydrocarbon output to 300,000 barrels of oil equivalent per day (boepd) in the near future from the current level of 103,200 boepd, with drilling set to begin in a number of projects this year, chief financial officer Hitesh Vaid told FE.

- ARUNIMA BHARADWAJ

The company has also laid out an investment plan of $3-4 billion for its exploration and production activities over the next five years.

"We aim to scale up our crude production to have a share of 50% in domestic output across our portfolio of 69 blocks spread across an acreage of 73,000 sq km. Our aim is to increase output to 300,000 bpd in the near future, driven by ASP (alkaline-surfactant-polymer) expansion in Rajasthan, shale gas monetisation, deepwater discoveries, North-East developments, tight oil fields in Rajasthan, and shallow water exploration," Vaid said.