Cairn India plans to drill more than 450 wells in Rajasthan block. The firm also want to ramp up crude oil production to 215,000 bpd from the current 175,000 bpd
The investment will be fully funded from Cairn India's cash resources and will target adding 530 million barrels of oil to its reserves, Navin Agarwal told an annual shareholders meeting in Mumbai.
London-listed Vedanta Resources expects to complete the consolidation of its Indian business in 2012, its vice chairman, Navin Agarwal, said on Saturday.
Close on the heels of completing acquisition of Cairn India, London-based mining group Vedanta has appointed three nominees, including its vice chairman Navin Agarwal and Priya Agarwal, on the company board.
Navin Agarwal, Director, Motilal Oswal Financial Services is not so positive on the market as it is unlikely to see any meaningful upside in near-term.