Commodities
Vedanta Targets Record Oil Output with $200 Million Rajasthan Boost
Vedanta aims to boost crude output from its Rajasthan oil fields by investing $200 million. The company targets production of over 150,000 barrels per day (bpd) from the Mangla field, a significant increase from the current 80,000 bpd.
The discovery of Mangla in 2004 made Barmer India's largest onshore oil-producing region. Vedanta plans to achieve this increase through enhanced recovery techniques such as polymer flooding and well interventions.
Vedanta Oil and Gas' interim CEO Jim Johnny Gast emphasized the importance of higher recovery from existing wells, citing natural declines of 1-3% in producing fields.