Get latest articles and stories on Business at LatestLY. Cairn Oil & Gas, India’s largest private oil and gas exploration and production company and a unit of Vedanta Group, is today celebrating the 13th anniversary of successful operations from its Mangala oil field, located in Barmer, Rajasthan.
New Delhi [India], August 29 (ANI/PRNewswire): Cairn Oil & Gas, India’s largest private oil and gas exploration and production company and a unit of Vedanta Group, is today celebrating the 13th anniversary of successful operations from its Mangala oil field, located in Barmer, Rajasthan.
Discovered in 2004, the field was the largest global discovery of the year and India’s largest onshore discovery in 25 years. Since the discovery of the first oil on August 29, 2009, the Mangala oil field has produced more than 497 mmbbls as of August 2022.
Celebrating the occasion, Prachur Sah, Deputy CEO, Cairn Oil & Gas, said, “We are happy to announce that Mangala oil field has completed its 13th year of production. The field has been instrumental in supporting India’s domestic crude production and we are confident that the field will remain relevant in the coming years as India charts its path towards energy aatmanirbharta. The field has been home to some of the finest global partnerships that have propelled innovation in technologies of oil and gas exploration and production. At Cairn, we have announced our goal to double production capacities and contribute 50% to India’s domestic crude basket and in this mission, the Mangala field will continue to play a driving role.”
Today, Cairn Oil & Gas contributes ~25 per cent to India’s domestic crude oil production – a majority of the production coming from the company’s Rajasthan block which consists of Mangala, and its sister fields Bhagyam and Aishwariya. Collectively, they have contributed USD 21 billion to the national and state exchequer as on FY’22. The cumulative production from the block has crossed 660 mmboe. Now, Cairn Oil & Gas aims to double production capacities and contribute 50 per cent to domestic crude production. Here too, the Mangala field and Rajasthan block will play a driving role.
The Mangala field has also witnessed crucial innovation in Enhanced Oil Recovery (EOR), use of Alkaline Surfactant Polymer (ASP) technology and being home to the Mangala pipeline – the world’s longest continuously heated and insulated pipeline that traverses ~705 km carrying crude from the fields of Rajasthan to refineries in Gujarat. The Mangala pipeline is now switching to solar energy and will be powered by solar panels installed across the length of the pipeline. The celebrated pipeline has been a testimony of industry-leading practices, and its conversion to solar power is setting a precedent for the oil and gas sector.
Along with aiding India’s energy needs, the Rajasthan block has also contributed significantly to improving socio-economic conditions in its vicinity. Since Cairn commenced operations, the district of Barmer has registered a 650 per cent increase in per capita income – taking it above both the national and state averages. Initiatives across water, biodiversity, education, women, and child development, etc., have touched the lives of over 8 crore people in the region. This has generated rich social wealth that is visible in the changed landscape and livelihoods of western Rajasthan today.
Cairn Oil & Gas, Vedanta Ltd., is the largest private oil and gas exploration and production company in India, accounting for more than a quarter of India’s domestic crude oil production. It has a world-class resource base, with a current interest in 58 blocks in India, including the 41 blocks under the Open Acreage Licensing Policy (OALP) Round I auction, five blocks each under Round II and Round III, and two awarded under the Discovered Small Fields (DSF) Round-II. In 2004, Cairn made the largest onshore discovery in more than two decades in India at Mangala, Rajasthan. In its operations of 20 years, Cairn has opened four frontier basins with numerous discoveries, 38 in Rajasthan alone. Cairn Oil & Gas has recently reiterated that it is a separate entity with no connection to Cairn Energy PLC, the Scottish oil and gas exploration company. The brand name ‘Cairn’ is now exclusively owned by Vedanta Limited, and all others will discontinue the use of the brand name ‘Cairn’.
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals companies with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia.
For two decades, Vedanta has been contributing significantly to nation-building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and the environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector.
Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged USD 5 billion over the next 10 years to accelerate the transition to net-zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, has been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development.
Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies company have been featured in Dow Jones Sustainability Index 2020, and was conferred Frost & Sullivan Sustainability Awards 2020, CII Environmental Best Practices Award 2020, CSR Health Impact Award 2020, CII National Award 2020 for Excellence in Water Management, CII Digital Transformation Award 2020, ICSI National Award 2020 for excellence in Corporate Governance, People First HR Excellence Award 2020, ‘Company with Great Managers 2020’ by People Business and certified as a Great Place to Work 2021.
Vedanta’s flagship Nand Ghar Project was identified as the best CSR project by the Government of Rajasthan. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.
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