Cairn Oil & Gas, a subsidiary of the Vedanta Group, has signed a contract with Parker Wellbore to lease a 2,000-horsepower drilling rig for its operations in Barmer, Rajasthan. The partnership aims to boost production and exploration activities in the region, which hosts Cairn’s largest onshore oil-producing asset in India.
Strengthening Operations in Barmer
The high-performance drilling rig will be deployed this month, reinforcing Cairn’s efforts to enhance operational efficiency and expand its production capabilities. The move aligns with the company’s broader strategy to increase exploration and output across its assets in India.
Focus on Growth and Innovation
Cairn Oil & Gas is actively pursuing multiple growth projects, including:
*Deepwater exploration
*Tight oil and shale development
*Exploration in India’s northeast
Additionally, the company seeks global partnerships with leading oil and gas firms to leverage their expertise in these specialized fields. With interests in 62 blocks across India, Cairn holds 1.4 billion barrels of oil equivalent in gross 2P (proved + probable) and 2C (contingent) reserves. The company’s producing assets span across Rajasthan, Andhra Pradesh, Gujarat, and Assam.
Driving Investments in Unconventional Resources
Hitesh Vaid, Chief Financial Officer at Cairn Oil & Gas, emphasized, “Cairn is making significant investments to explore unconventional resources in India. By collaborating with proven global partners, we are unlocking the untapped potential of the country’s oil and gas sector. Our strategic partnership with Parker Wellbore will enable us to commence drilling within the next few months. This will strengthen our operational performance and drive production growth.”
As reported by projectstoday.com, Cairn Oil & Gas is strengthening its position in India’s energy sector. With this initiative, the company advances its vision to boost domestic production and exploration.
