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Cairn Oil and Gas Selects Lloyd’s Register for Integrated Project Management of 41 Blocks

Cairn Oil and Gas, the upstream arm of Vedanta Ltd, today announced it has short-listed Lloyd’s Register for integrated project management of 41 blocks won by the company under India’s first oil and gas auction round held under Open Acreage Licensing Policy (OALP).

 

Lloyd’s Register Group provides professional services for engineering and technology that can improve performance and safety of infrastructure projects. “The shortlisting has followed a rigorous bidding process that saw participation from top global players,” the company said in a statement.

 

Cairn was awarded 41 of the 55 blocks under the first round of OALP contracts for which were signed in October 2018.

 

The company said Lloyd’s selection will enable speedy exploration management across the 41 blocks simultaneously with an end-to-end plan under stipulated timelines. Cairn Oil and Gas has applied for Petroleum Exploration Licenses (PEL) in these blocks and the process of obtaining environmental clearances for all the 41 blocks is ongoing. Cairn has already received PELs for 11 blocks so far.

 

The company’s CEO A K Dixit said the interest was garnered from top global players for participating in the India exploration opportunity and the firm is planning for a success case scenario, looking ahead for how production management can be adopted prior to initiating the exploration activities. “This approach, while capital-intensive, is the best way forward to fast-track production and deliver on our vision to contribute to India’s energy security,” Dixit said.

 

He had said in an interview to source last week the company plans to award 75 per cent of the work contracts for 41 blocks it had won under the first round of OALP within six weeks. Cairn plans to increase its production to 270 thousand barrel of oil equivalent per day (Kboepd) from 190 Kboedp currently.

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