Cairn India Vedanta

Vedanta's Cairn Oil & Gas submits development plan for Jaya gas find in Guj

Vedanta Ltd's Cairn Oil & Gas on Thursday said it has submitted a field development plan for the Jaya gas discovery in an area in Bharuch district of Gujarat. The firm made a gas and condensate discovery in an onshore OALP block in August 2020. "Through exploration and appraisal successes, Cairn has now submitted a field development plan (FDP) to produce more than 2,000 barrels of oil and oil equivalent gas per day, initially," the firm said in a statement. It, however, did not give details of the investment plan and how long will it take to bring the field to production from the date of FDP approval. The FDP has been submitted to the government's Directorate General of Hydrocarbons (DGH). "This field has the potential to contribute to the company's goal of doubling production capacities and driving energy aatmanirbharta for India. This will be the first FDP submitted in the OALP regime, among 144 blocks awarded under 8 OALP rounds by the government to various companies," the ...

Securities Appellate Tribunal relief for Vedanta in Cairn buyback case

The Securities and Exchange Board of India (Sebi) had issued the order in May 2021 for allegedly flouting buyback regulations

Cairn Oil & Gas to spend $4 billion, aims 3 times production increase

As high prices make investments attractive, firm charts plan for next 3 years

Vodafone verdict: Impact on Cairn unlikely, basis of scrutiny distinct

Cairn is awaiting its own arbitration award for which the final hearings concluded way back in 2018

Five oilfields qualify for fiscal incentives under enhanced recovery policy

The ER policy was notified in October 2018, to promote use of new techniques to increase the recovery rate for oil and gas

Fitch revises outlook on Vedanta-led Cairn India from stable to negative

Oil and gas business is the second-largest contributor to Vedanta's EBITDA, after the Indian zinc operations

Vedanta unit Cairn India Holdings approves investment In AvanStrate

Vedanta Ltd arm Cairn India holdings Limited (CIHL) has acquired controlling stake in Japan-based LCD glass substrate manufacturer AvanStrate Inc (ASI) for $158 million. Through a company statement, Anil Agarwal-led Vedanta informed the contours of the deal that comprise acquisition of $151 million existing debt of ASI from banks, acquisition of just over 51 percent stake of ASI for a nominal consideration from the Carlyle Group, and extension of a $7 million loan to ASI.Currently, Carlyle Group owns majority of ASI. "Completion of the acquisition is conditional on consents being obtained from ASI's existing lenders and is expected to occur prior to 31 December 2017," said Vedanta in its release. ASI is a leading global manufacturer of glass substrates for small and medium sized high resolution thin film transistor liquid crystal display (TFT LCD) panels, which are used in screens for devices including smartphones, satellite navigation systems in vehicles, cameras, flat screen ...

Cairn India set to increase gas production by 2019

New Delhi, 29 November Already this country's biggest private sector oil producer, Cairn India, part of Anil Agarwal's Vedanta group, is set to considerably increase its gas production, to three million standard cubic metres a day (105.9 million standard cubic ft) by June 2019.Production from its Raageshwari Deep Gas (RDG) field is expected to increase to 100 million standard cubic ft a day (mscfd) by then, from 33.8 mscfd in the September quarter of this financial year."We have started investing in a $1-billion programme. Post-completion of RDG Phase-I this month, gas production is expected to increase to 40-45 mscfd," said Sudhir Mathur, chief executive officer for Cairn's oil and gas business. Activity on tenders for partnership with leading service providers for integrated delivery of RDG Phase-II is progressing. This is expected to increase the gas production and condensate production to over 5,000 boepd (barrels of oil equivalent per day) by the first half of 2019.Gas sales, ...

Cairn India hits 52-week high; Vedanta up 4% as merger become effective

Vedanta and Cairn India were up 3% and 2%, respectively, against 0.56% fall in Sensex at 11:06 am

Cairn India, Vedanta gain as National Company Law Tribunal approves merger

Cairn India hit 52-week high of Rs 306, up 5%, while Vedanta gain 3.4% to Rs 270 on BSE in intra-day

Cairn's biz outlook could suffer after merger with Vedanta

Vedanta recently sweetened the deal for minority shareholders of Cairn India, increasing the chances of the merger being completed soon

Cairn India, Vedanta hit 52-week high

Cairn India surged 8% to Rs 207, Vedanta up nearly 4% to Rs 175 on the BSE.