Vedanta gets green nod to drill 5 onshore wells in Assam, says source
Informist, Friday, Sep 22, 2023
By Narayana Krishna
HYDERABAD – The appraisal committee of the Ministry of Environment, Forest and Climate Change has approved Vedanta Ltd's plan to drill five onshore oil and gas wells in Assam, according to an official document accessed by Informist.
Vedanta, through its arm Cairn Oil & Gas Ltd, plans to invest up to 1.2 bln rupees in the Assam hydrocarbon block to drill wells and start extracting crude oil from the five wells, the document says. The company aims to produce 3,600 bbl crude oil and 24 mln cubic feet of natural gas per day from these wells.
According to the document, these wells will be drilled at four sites where state-owned Oil and Natural Gas Corp Ltd had earlier drilled wells in 2007. Further details were not given.
Vedanta, the largest private oil and gas exploration and production company in India, has 58 oil and gas blocks in the country, with the Mangala onshore field in Rajasthan being the largest.
At 1336 IST, shares of Vedanta traded 0.7% lower at 224.90 rupees on the National Stock Exchange. End