Cairn to partner US oil services consortia to develop Indian blocks


Cairn to partner US oil services consortia to develop Indian blocks

Vedanta Ltd’s Cairn Oil and Gas business wants US oilfield services companies to set up consortia to help the company develop the 41 blocks it has won in India this year.

Parent Vedanta Resources Plc chairman Anil Agarwal and Cairn chief executive Sudhir Mathur met with executives from around 70 oil services companies this week in Houston to encourage the firms to organise into consortia to compete for contracts, according to a Reuters report.

“We fully support India’s drive to become self-sufficient in energy resources by 2030. We strongly believe in India’s growth prospects, in the country’s huge oil and gas potential and will commit the investment needed over the next five years in the upstream activities,” Agarwal said in a press statement. Read More

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