Vedanta targets 500,000 boed as it pushes for more India oil and gas exploration

(WO) — Vedanta Oil & Gas has reaffirmed its goal of increasing production to 500,000 boed while calling for accelerated exploration to unlock India's estimated hydrocarbon resources and reduce the country's dependence on imported oil and gas.

Marking Global Energy Independence Day, the company said India currently imports nearly 90% of its oil and gas requirements despite an estimated 300 billion boe of hydrocarbon resource potential. Vedanta said expanded exploration and enhanced oil recovery technologies could help strengthen domestic energy security, support economic growth and reduce exposure to global supply disruptions.

"Energy independence is a strategic economic imperative for India," said Vedanta Chairman Anil Agarwal. "Every barrel of oil and gas produced within the country strengthens our economy, reduces import dependence and enhances national resilience."

Vedanta noted that India remains significantly underexplored, with large prospective sedimentary basins yet to be systematically evaluated. The company also pointed to the government's recent efforts to open additional deepwater and ultra-deepwater acreage for exploration as part of broader initiatives to expand domestic energy production.

Vedanta Oil & Gas, formerly Cairn Oil & Gas, said it plans to help unlock the country's resource base through continued exploration and the application of advanced production and enhanced oil recovery technologies.

The company operates one of India's largest private upstream portfolios, with interests in 44 onshore and offshore blocks covering nearly 47,000 sq km across Rajasthan, Gujarat, Assam and Andhra Pradesh. Its acreage includes both conventional and unconventional hydrocarbon resources.

Vedanta said continued collaboration among industry, technology providers and policymakers will be needed to expand domestic oil and gas production and improve India's long-term energy security while reducing reliance on imports.