The Vedanta group company Cairn Oil & Gas announced that it discovered oil in an exploration well in Rajasthan’s Barmer region on February 21. An oil discovery has been reported to the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas under the Open Acreage Licensing Policy, according to a regulatory filing (OALP). It is also reported that Vedanta’s Management Committee, the block monitoring panel, was informed of the discovery of the OALP block.
WM-Basal DD Fan-1 was drilled as part of the OALP Block RJ-ONHP-2017/1 in Barmer District of Rajasthan. The discovery is called ‘Durga’. Vedanta notified the Management Committee, DGH and the Ministry of Petroleum and Natural Gas on February 21, 2022. According to the corporation, the consent of the block monitoring panel, known as the Management Committee, has also been requested. It secured 41 areas in the first round of the open acreage licensing policy (OALP) bid round in October 2018. Vedanta Ltd., which has its headquarters in Mumbai, owns the entire block through Cairn Oil & Gas.
In Block RJ-ONHP-2017/1, Durga-1 (formerly WM-Basal DD Fan-1) was drilled to a depth of 2615 meters. Under the OALP portfolio, this is the company’s third hydrocarbon discovery. During the drilling of the well, four hydrocarbon zones were encountered in the Dharvi Dungar (DD) formation of the Late Paleocene to Early Eocene age.” This block is situated in the Gudamalani and Chohtan Tehsils of Rajasthan’s Barmer district.
The block was selected because it is close to a highly productive block known as Rajasthan, which produces roughly 150,000 barrels of oil and gas per day. Separately, the company said it intends to reach net-zero carbon emissions by 2050. As part of its commitment to invest USD 4 billion over the next three to four years, it announced an ESG (environmental, social, and corporate governance) roadmap to help it reach its sustainability goals.
Anil Agarwal, Vedanta’s founder and chairman, said, ‘We believe our oil and gas business is well-positioned to meet India’s energy needs and growth aspirations.’ Agarwal said his company has developed ESG targets for its operations that will help make India’s energy sector more efficient and enable the country to achieve aatmanirbharta, guided by the philosophy of ‘zero harm, zero waste, zero discharge.
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