en.Wedoany.com Reported - Vedanta Oil & Gas has reaffirmed its target to ramp up production to 500,000 barrels of oil equivalent per day (boe/d) and called for accelerated exploration to unlock India's estimated oil and gas resource potential, thereby reducing the country's dependence on imported oil and gas.
Commemorating Global Energy Independence Day, the company noted that while India holds an estimated oil and gas resource potential of around 300 billion barrels of oil equivalent, nearly 90% of its current oil and gas demand is met through imports. Vedanta pointed out that expanding exploration and adopting enhanced oil recovery technologies can help strengthen domestic energy security, support economic growth, and reduce exposure to risks from global supply disruptions.
Vedanta Chairman Anil Agarwal stated that energy independence is a strategic economic imperative for India, adding that every barrel of oil and gas produced domestically strengthens the economy, reduces import dependence, and enhances national resilience.
Vedanta noted that India is currently severely underexplored, with numerous promising sedimentary basins yet to be systematically assessed. The company mentioned that recent government efforts to open more deepwater and ultra-deepwater areas for exploration are part of a broader initiative to expand domestic energy production.
Vedanta Oil & Gas (formerly Cairn Oil & Gas) stated that it plans to help unlock the country's resource base through ongoing exploration and the application of advanced production and enhanced oil recovery technologies.
The company operates one of India's largest private upstream asset portfolios, with interests in 44 onshore and offshore blocks across Rajasthan, Gujarat, Assam, and Andhra Pradesh, covering an area of nearly 47,000 square kilometers. Its acreage includes both conventional and unconventional oil and gas resources.
Vedanta emphasized the need for sustained collaboration among industry, technology providers, and policymakers to expand domestic oil and gas production, improve India's long-term energy security, and reduce reliance on imports.
