New Delhi, April 1, 2025 — Cairn Oil & Gas, a unit of Vedanta Group and India’s largest private oil and gas exploration firm, has signed a strategic agreement to lease a high-performance 2,000-horsepower drilling rig from Parker Wellbore. The U.S.-based company was recently acquired by Nabors Industries, a global leader in energy technology.
This move is aimed at ramping up Cairn’s exploration and production capabilities across India. The new state-of-the-art drilling rig will be deployed this month in Barmer, Rajasthan—Cairn’s largest onshore producing asset in the country.
Cairn currently holds interests in 62 blocks spread over 60,000 square kilometers across India. Its reserves include 1.4 billion barrels of oil equivalent in gross 2P (proved + probable) and 2C (contingent) categories. The company has producing assets in Rajasthan, Andhra Pradesh, Gujarat, and Assam.
This move is aimed at ramping up Cairn’s exploration and production capabilities across India. The new state-of-the-art drilling rig will be deployed this month in Barmer, Rajasthan—Cairn’s largest onshore producing asset in the country.
“This deployment aligns with Cairn's ongoing efforts to increase production and support its exploration initiatives in the region,” the company said in an official statement.
Vedanta Targets Energy Independence with Major Investments
At the recent CERAWeek 2025 conference, Vedanta Group Chairman Anil Agarwal outlined ambitious plans for India's energy sector. He revealed the company’s strategy to invest in brownfield projects to unlock 5 billion barrels of oil equivalent reserves. The goal is to produce 500,000 barrels per day at a cost of just USD 5 per barrel, though no specific timeline was provided.Strategic Collaboration to Unlock India’s Hydrocarbon Potential
Hitesh Vaid, Chief Financial Officer of Cairn Oil & Gas, highlighted the importance of the partnership with Parker Wellbore in supporting the company’s aggressive exploration agenda.Cairn’s current portfolio includes a proven petroleum system with high-quality source rock, multiple grabens with oil and gas plays, and a compact area featuring a gross thickness of 500 meters. The drilling of a single well in this region has already validated the potential for further development.“Cairn is leading large investments to accelerate exploration of unconventional resources in India. Through our collaboration with proven global partners, we are unlocking the untapped potential of oil & gas resources in the country,” said Vaid.
“This strategic partnership with Parker Wellbore will enable us to start drilling within the next few months, further enhancing our operational performance and contributing to our growth in line with our vision to grow production.”
Expanding Footprint Across India
As a significant contributor—producing nearly a quarter of India’s domestic oil—Cairn is aggressively pursuing new growth avenues. The company is actively exploring deepwater, tight oil, shale, and northeast India blocks, and is seeking collaborations with global oil and gas players with expertise in these domains.Cairn currently holds interests in 62 blocks spread over 60,000 square kilometers across India. Its reserves include 1.4 billion barrels of oil equivalent in gross 2P (proved + probable) and 2C (contingent) categories. The company has producing assets in Rajasthan, Andhra Pradesh, Gujarat, and Assam.
Last updated by a enewsx:
