NEW DELHI: Cairn Oil & Gas, part of Vedanta Ltd, announced a 19% year-on-year rise in its reserves and resources (R&R) portfolio to 1.4 billion barrels of oil equivalent (Bboe) in this fiscal year. Its total reserve plus resource additions have exceeded production, leading to a Resource Replacement Ratio (RRR) of 533%, a five-fold increase over the previous year’s RRR of 108%.
Cairn has recorded a substantial increase in its Gross Contingent (2C) resources to 1.126 Bboe, a year-on-year growth of 33%.
This signifies a larger pool of potentially recoverable resources, fueling future production and cash flow generation for the company, and increased domestic production supporting India’s initiative for self-reliance (Aatmanirbhar Bharat). The company has also announced a strategic resource management plan that prioritizes long-term sustainability and value creation for investors.