Guwahati: Cairn Oil and Gas, part of Vedanta Group, and India’s largest private oil and gas producer, has committed to an investment in exploration and production (E&P) of oil and gas worth Rs 50,000 crore in the region on the opening day of Advantage Assam 2.0 — the state’s global investment conclave in Guwahati. “The investment will provide for the establishment of world-class Oil & Gas E&P facilities in Assam, alongside extensive Corporate Social Responsibility (CSR) initiatives such as establishing more Nand Ghars (modernised anganwadis), expanding handloom skill centers, building digital classrooms for women and children, and promoting sports to ensure a brighter, more inclusive future for the Youth of the region,” said a statement on Tuesday.
“This MoU will foster Assam’s position as an industrial and economic powerhouse, contributing significantly to India’s vision of becoming a global leader while reaffirming Vedanta’s role as a catalyst in Assam’s transformation and India’s industrial evolution,” the company said.
Speaking at the summit, in the presence of Prime Minister Narendra Modi, the Chief Minister of Assam, Dr Himanta Biswa Sarma, and other dignitaries, Anil Agarwal, Chairman, Vedanta, reinforced his company’s commitment towards the progress of the state. Reflecting on Assam’s rich legacy as the birthplace of India’s oil industry, Agarwal said, “Assam is abundant in natural resources and has the potential to become 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 and indirect employment opportunities for 1 lakh youth.”
He highlighted Assam’s strategic location, pro-investment policies and expanding infrastructure, as key factors to fuel India’s growth. He emphasised on the potential of the state to become a Mega basin, and India’s energy production hub. Calling Assam an attractive investment destination, he expressed his company’s commitment to play a pivotal role in the state’s long-term, sustainable growth.
Cairn holds an acreage of 7,650 km2 in the Arakan basin in Assam and its footprint includes a strategic portfolio of 15 exploration blocks, including 12 blocks under the Open Acreage Licensing Policy (OALP) and three Discovered Small Fields (DSF). The company has been producing from its Hazarigaon field in Assam since 2023, the first DSF block to go under production in North East. It has been supplying gas to the neighbouring tea estates, giving a boost to tea production in the region and enabling farmers to switch from expensive coal-based energy sources to clean gas. The locally-produced gas from the Hazarigaon field is also a prime contributor in fuelling 100 CNG buses in Guwahati.
“Cairn, in association with Assam State Livelihood Rural Mission (ASLRM) has been supporting women artisans in Assam through sustainable livelihood opportunities. With the launch of handloom centres, the company has provided financial independence to more than 3,000 women,” said the company.
