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While India is yet to commercially produce this partnership is another step towards our goal
shale oil or gas, Cairn said it believed its part- of increasing production capacities to 500,000
nership with Halliburton would be a “significant boe per day.”
step” towards that end. The chairman of Cairn parent Vedanta, Anil
Cairn is also counting on Halliburton to help Agarwal, tweeted on October 5 that the com-
it increase its recoverable reserves from offshore pany had plans to account for as much as half
assets from 30mn boe at present to 300mn boe. of the country’s oil production within the next
The developer said the offshore partnership few years.
would evolve through three distinct stages – con- “To reduce the oil price, Cairn Oil and Gas is
ceptual design, conceptual detailing and execu- committed to producing 50% [of India’s] oil and
tion. This will include geological and seismic gas … within two-three years’ time. The entire
studies, well-designing and engineering, and industry appreciates the government efforts in
drilling to determine recoverable reserves. streamlining the process to boost production
Cairn’s offshore assets include the Ravva block and attract more global companies to invest in
off the coast of Andhra Pradesh, the CB/OS 2 block India,” Agarwal said in the tweet.
offshore Gujarat and several blocks acquired via the To this end, Cairn also entered into a partner-
Open Acreage Licensing Policy (OALP). ship with Baker Hughes at ADIPEC 2021 that
Halliburton is in the process of implement- aims to use new technology to boost recovera-
ing a collaborative team of experts to collectively ble reserves at the Bhagyam field in the Barmer
assess, plan and ultimately execute the project. Basin from 45mn boe to 250mn boe.
Cairn CEO Prachur Sah said both deals Sah said: “Increasing recovery and produc-
were part of the company’s long-term strategy tion from existing fields, new hydrocarbon
to boost production in order to help reduce the explorations and opting for unconventional
country’s dependence on imported oil and gas. fuels are our strategic levers as we move towards
Sah said: “To achieve energy sufficiency, doubling our production capacities. We have
India must improve upstream exploration, aug- been emphasising on the need to introduce fresh
ment technology for brown fields and encourage technology to augment production from old and
unconventional energy resources such as shale.” ageing fields that today comprise around 90% of
The executive added: “The exploration and India’s capacities.”
production of shale has revolutionised the US’ Cairn said the partners would focus on tech-
energy landscape and for India too, the fuel can nical assistance and conceptual design, detailed
be a game-changer. Cairn has always expressed technical evaluation and pilot execution, and full
firm faith in India’s hydrocarbon potential, and field development planning and execution.™

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