The Vedanta Group has announced that it will invest $650 million in the new oil and gas blocks it had won from the government's last two rounds of auctions, said Ajay Kumar Dixit, chief executive of the company's oil and gas division. He added that the company had won 53 oil and gas blocks under the government's open acreage licensing policy (OALP) and Discovered Small Field (DSF) rounds. The company intends to invest ₹20,000 crore in the exploration and production of oil and gas over the next three years in its existing and new fields, averred chairman Navin Agarwal.
📅Published on:
17 July 2019
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