Vedanta Ltd’s Cairn Oil & Gas released a statement stating that it has signed a strategic agreement with Parker Wellbore, recently acquired by Nabors Industries.
This partnership aims to boost Cairn’s operations in India, specifically in Barmer, Rajasthan, where the company’s largest onshore producing asset is located.
As part of the agreement, Cairn will deploy a state-of-the-art 2000HP drilling rig equipped with advanced features, including a top drive system, automated pipe handling, and real-time data monitoring, ensuring improved operational efficiency and enhanced safety in its drilling operations.
The high-performance 2000HP drilling rig will be deployed this month to advance Cairn’s exploration and production efforts. The advanced rig’s technology will optimise performance, reduce costs, and provide real-time data to enhance the accuracy and safety of drilling processes. Cairn’s strategic focus on deploying such cutting-edge equipment supports its ambition to increase production in the region while maintaining a strong focus on safety and sustainability.
At CERAWeek 2025, Vedanta Chairman Anil Agarwal outlined the company’s vision for India’s energy sector growth, which includes investing in brownfield projects to add 5 billion barrels of oil equivalent reserves.
Cairn stated that it is committed to producing 5,00,000 barrels per day at a cost-effective $5 per barrel, contributing to India’s energy security. The company’s growth initiatives include exploring unconventional resources like Deepwater, Tight Oil, ASP, Shale, and Northeast exploration. Cairn is actively seeking global partnerships with companies that bring expertise in these high-growth areas.
Cairn Oil & Gas is positioning itself for sustainable growth by embracing innovative technologies and forging strategic partnerships.
The deployment of the 2000HP drilling rig in Rajasthan and Cairn’s ongoing efforts to expand its exploration initiatives demonstrate its commitment to increasing production and enhancing energy security in India.
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Published on: Apr 2, 2025, 9:04 AM IST
Nikitha Devi
Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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