We have loaded additional $1 bn for new blocks over planned capex: Sudhir Mathur, Cairn Oil and Gas


We have loaded additional $1 bn for new blocks over planned capex: Sudhir Mathur, Cairn Oil and Gas

Sudhir Mathur, chief executive officer at Cairn Oil & Gas, Vedanta’s oil and gas subsidiary, in an exclusive interview with ETEnergyworld talks about how the company plans to invest an additional $1 billion over the next 2-3 years after bagging 41 blocks under India’s maiden OALP auctions. The company is targeting to produce around 500,000 barrels of oil equivalent per day from the new blocks. Edited excerpts..

The company won 41 blocks under Maiden auctions held under OALP. What is the way forward?

We are quite happy to have bagged 41 blocks. There is a huge amount of work to be done. We were anticipating that we will get a reasonable number of blocks. So, we had already started beefing up both our technical and management teams.

We have engaged with potential partners for seismic surveys, drilling, appraisal & development services so as to bring oil to the surface as fast as possible. That is our key objective. We had a big meeting last week in Gurgaon where we  invited various potential partners. Read More

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