Cairn India sets plan to spend $2 billion on exploration

摘要

Mumbai—Cairn India plans to spend $2 billion over the next two years on exploration at its various assets in India and Sri Lanka, subject to regulatory approvals, Chairman Navin Agarwal said August 22. About $600 million of the spending is planned for the company’s Rajasthan block. Cairn India, which is owned by Londonbased minerals and metals group Vedanta Resources, has been seeking regulatory approval for further exploration in the Rajasthan block, where the enhanced resource base supports a peak production of 300,000 b/d, Agarwal told sharehholders at the company’s annual general meeting in Mumbai.