On 21 February, Cairn Oil & Gas, a Vedanta group company, said it had discovered oil at an exploration well in the Barmer area of Rajasthan.
The company said it has alerted the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas about oil exploration in the block granted under the Open Acreage Licensing Policy, according to a regulatory filing (OALP).
According to Vedanta, the Management Committee, the Block Monitoring Panel have also been informed about the discovery made in the OALP block.
“The Company on February 21, 2022 submitted to the Management Committee, DGH and Ministry of Petroleum and Natural Gas regarding an oil discovery (named ‘Durga’) in its exploratory well WM-Basel DD Fan-1 drilled at OALP block RJ-ONHP. -2017/1 in Barmer district of Rajasthan,” Vedanta said.
The name given to the discovery is ‘Durga’.
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According to the corporation, the consent of the Block Monitoring Panel, known as the Management Committee, has also been sought.
In October 2018, the company secured 41 sectors in the first phase of the Open Acreage Licensing Policy (OALP) bid round.
Cairn Oil & Gas, a Mumbai-listed subsidiary of Vedanta Limited, owns the entire block.
“Durga-1 (earlier WM-Basel DD Fan-1) is the second well in block RJ-ONHP-2017/1 to a depth of 2615 meters,” the firm said.
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This is the third hydrocarbon discovery notified by the company under the OALP portfolio.
“During the drilling of the well, four hydrocarbon fields were encountered in the Dharavi Dungar (DD) Formation from the Late Paleocene to the Early Eocene epoch,” it said.
RJ-ONHP-2017/1 Block is located in Gudmalani & Chohtan Tehsil of Barmer District of Rajasthan.
The block is close to the highly productive Rajasthan block, which produces about 150,000 barrels of oil and gas per day.
Separately, the firm said that by 2050, it intends to achieve net-zero carbon emissions.
“The company is committed to invest USD 4 billion over 3-4 years to double its production, and the newly announced ESG (Environmental, Social and Corporate Governance) roadmap will help the company achieve this vision in a sustainable manner. will enable.” Statement.
Anil Agarwal, Founder and President, Vedanta said, “Our oil and gas business today is well positioned to meet India’s energy needs and growth aspirations.”
Guided by the philosophy of “Zero Loss, Zero Waste, Zero Discharge”, we have formulated strong ESG targets for our operations that will help India’s energy sector become more efficient and enable the country’s journey towards a self-reliant India “
(with inputs from agencies)