Cairn Oil & Gas, a part of the Vedanta Group, has announced an investment of Rs 50,000 crore in oil and gas exploration and production in Assam.
According to the company, this investment will help build world-class oil and gas facilities in the region. It also plans to undertake various Corporate Social Responsibility (CSR) initiatives, such as setting up more Nand Ghars (modernized anganwadis), expanding handloom skill centers, constructing digital classrooms for women and children, and promoting sports. These efforts aim to create a better and more inclusive future for the youth of Assam.
"Assam is abundant in natural resources and has the potential to become the world’s Mega basin. We are poised to play a pivotal role in Assam’s sustainable growth and development. With an investment exceeding Rs 50,000 crore, we will produce 100,000 barrels of oil and gas per day from Assam – making it a dominant hydrocarbon hub, while creating direct & indirect employment opportunities for 1 lakh youth," said Anil Agarwal, Chairman of Vedanta.
Cairn Oil & Gas holds 7,650 km of land in Assam’s Arakan Basin, which includes 15 exploration blocks. These consist of 12 blocks under the Open Acreage Licensing Policy (OALP) and three Discovered Small Fields (DSF). The company started production from its Hazarigaon field in 2023, making it the first DSF block in the Northeast to begin operations.
The gas produced from the Hazarigaon field is being supplied to nearby tea estates, helping boost tea production and allowing farmers to switch from costly coal-based energy to cleaner gas. Additionally, the locally produced gas is being used to fuel 100 CNG buses in Guwahati, supporting Assam’s clean energy initiatives