Rajasthan block to get most of Cairn Oil & Gas $5 billion investment by FY26: Deputy CEO
- On October 28, deputy CEO Prachur Sah told Moneycontrol that Cairn Oil & Gas will invest $5 billion in operations by 2025-26, $3 billion of which would go to its Rajasthan block.
- The petroleum and natural gas ministry had extended Vedanta Ltd.’s Rajasthan block’s production-sharing contract (PSC) until May 2030 a day earlier.
- Since it has the most potential, we invest $5 billion in this block. Sah remarked, “We are investing in our old offshore blocks and the new OALP (open acerage licencing policy) blocks.”