Assam's Black Gold Rush: Cairn's ₹50,000 Crore Bet

Cairn Oil & Gas, a subsidiary of the Vedanta Group and India’s largest private oil and gas producer, has committed an investment of Rs 50,000 crore towards oil and gas exploration and production in Assam. The announcement was made at Advantage Assam 2.0, a global investment summit held in Guwahati.

In his statement, he emphasized, "Assam is rich in natural resources and holds the potential to become the world’s next mega basin." This substantial investment is aimed at reaching a production target of 100,000 barrels of oil and gas per day, positioning Assam as a major hydrocarbon hub and generating employment opportunities for one lakh local youth. Cairn currently holds 7,650 km² in the Arakan Basin, including 15 exploration blocks under the OALP and DSF schemes.

The company has been actively producing from its Hazarigaon field since 2023, supplying natural gas to tea estates and fueling 100 CNG buses in Guwahati, contributing to the state's clean energy objectives.

News by Rahul Yelligetti.