Cairn Oil & Gas

Cairn becomes India's 1st oil & gas company to join UNEP's OGMP 2.0

Cairn Oil & Gas, part of Vedanta Group, has signed a memorandum of understanding with United Nations Environment Programme's flagship methane reporting and mitigation initiative - Oil & Gas Methane Partnership (OGMP) 2.0, making it the first oil and gas producer in India to commit to effective reduction of methane emissions. OGMP 2.0 established a comprehensive framework that includes best practices for emissions management and a robust reporting system. It emphasises accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively. "Under this MoU, Cairn will establish a 5-year methane reduction target and transparently report its progress to OGMP. This would enable Cairn to analyse its emission profiles and utilise the data to mitigate emissions cost-effectively. With this partnership, Cairn reaffirms its commitment to accelerate its efforts towards becoming Net Zero Carbon by 2030," the company said in a statement. OGMP 2.0 covers

Cairn to double annual capital expenditure to $1 billion for 5 years

The oil and gas major plans to kick-start 12 projects in the country in FY25

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 ...

Vedanta's Cairn Oil & Gas announces appointment of Nick Walker as new CEO

Walker comes into Cairn Oil & Gas after Prachur Sah quit the firm to join Indus Towers Ltd as managing director and CEO effective January 3, 2023

Vedanta arm wins 10-year production sharing contract for Rajasthan block

Cairn Oil & Gas recently won eight oil blocks and one coal-bed methane (CBM) block under the DSF Round III bids, taking the company's total assets in the country to 62

Cairn Oil and Gas to convert Mangala pipeline to solar power by 2025

Cairn Oil & Gas, a unit of mining giant Vedanta Ltd, will convert a pipeline that ships crude oil from its prolific Rajasthan oilfields to Gujarat to solar power by 2025. To commemorate World Environment Day on June 5, Cairn Oil & Gas will convert the Mangala pipeline to solar. It will install solar rooftop PVs in all the 36 Above Ground Installations (AGIs) along the pipeline by 2025, the firm said in a statement. The Mangala pipeline is the world's longest continuously heated and insulated pipeline that runs from oilfields of Rajasthan to refineries in Gujarat -- traversing 705 km. Discovered in 2004, Cairn's Mangala oilfield in Barmer district of Rajasthan was the largest global discovery of the year and India's largest onshore discovery in 25 years. The field is also home to the Mangala pipeline -- a technology marvel that was built to make the transportation of waxy crude produced from the prolific oilfield a thriving reality. Now, this celebrated pipeline is making the ..

Selling shares during talks to Panama Papers: The story of Cairn retro tax

Govt last month refunded about Rs 79 bn it collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds to settle 8 yr dispute

Russia-Ukraine crisis: Cairn Oil & Gas bats for parity pricing on crude

Domestic crude sales to refineries are subject to central sales tax/value-added tax while the same is not applicable on imported crude

India refunds Rs 7,900 cr to Cairn to settle retro tax dispute

The government initially refused to honour the award but in August 2021 brought a law to scrap all retrospective tax demands and refund money collected but without any interest or penalty

Rajasthan: Cairn Vedanta makes oil discovery in OALP block in Barmer dist

Vedanta group firm Cairn Oil & Gas on Monday announced an oil discovery in a Barmer district block of Rajasthan, not very far away from its prolific oilfield in the same desert. In a stock exchange filing, the firm said it has notified the government and the Directorate General of Hydrocarbons (DGH) of the discovery in exploratory well WM-Basal DD Fan-1 drilled in OALP Block RJ-ONHP-2017/1. The discovery has been named 'Durga'. The firm said the approval of the block oversight panel, called the Management Committee, has also been sought. The block is one of the 41 areas that the company had won in the first round of the open acreage licensing policy (OALP) bid round in October 2018. Cairn Oil & Gas, a unit of Mumbai-listed Vedanta Ltd, holds 100 per cent participating interest in the block. "Durga-1 (earlier WM-Basal DD Fan-1) is the second well drilled in the Block RJ-ONHP-2017/1 to a depth of 2615 meters," the firm said. This is the third hydrocarbon discovery notified by ...

Retrospective tax: Cairn drops lawsuits in US, UK against Indian govt

Last month, Cairn said it has agreed to drop litigations to seize Indian properties in several countries as it has accepted India's offer to settle the tax dispute

Cairn to work with Halliburton for boosting offshore recoverable reserves

Aims 10-fold reserve augmentation from Cairn's offshore assets

Cairn Oil and Gas hopes to recover around $4-billion investment

While the intention of the ER policy was to boost domestic oil and gas production from ageing fields, it has not yielded the desired results

Top headlines: RIL Q2 beats estimates, Cairn hoping to recover $4 bn

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Cairn arbitration award case: Govt gears up to stop Air India asset seizure

Seeks details from airline to assess impact on privatization

Cairn Oil & Gas starts production from tight oil project in Rajasthan

Vedanta Ltd's Cairn Oil & Gas on Wednesday said it has commenced oil production from NA #01 facility in Aishwariya Barmer Hills in Rajasthan. "The project is a first in Cairn's tight oil portfolio with a growth potential to contribute 20 per cent to the company's vision production," the company said in a statement. Cairn Oil & Gas however did not give production numbers. The project, the firm said, has been executed in collaboration with leading global oilfields services company, Schlumberger. The ABH development uses some of the most advanced technologies for its operations. It is the largest horizontal well with multi-frac development campaign of 37 wells in the Indian subcontinent which is the key enabler to unlock tight oil. Speaking about the project, Prachur Sah, Deputy CEO, Cairn Oil & Gas, said, "The ABH tight oil project is yet another example of our commitment to growing India's E&P sector through the deployment of advanced technologies. "It is also a ...

Cairn Energy offers to forego $500 mn if India agrees to pay principal due

The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan

India in process of filing appeal against Cairn arbitration award: Report

India is in the process of filing an appeal against an arbitration panel asking it to return USD 1.2 billion to British oil firm Cairn Energy Plc, sources said on Wednesday

India ready to appeal Cairn's $1.2 billion arbitration award this week

Courts in five countries, including the US and UK, have given recognition to the $1.4 billion arbitration award

It is my duty to appeal: FM Sitharaman on Cairn arbitration award

India's sovereign authority to tax cannot be questioned by anybody, she asserts