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Brinks Report > Blog > Business > Vedanta Shares Surge After Cairn Snaps Up 7 Oil Blocks—What’s the Bigger Play?
Business

Vedanta Shares Surge After Cairn Snaps Up 7 Oil Blocks—What’s the Bigger Play?

Dolon Mondal
Last updated: April 16, 2025 12:34 pm
Dolon Mondal
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Trulli

Cairn didn’t just win blocks—they staked a claim on India’s energy future.

Shares of Vedanta Ltd surged on Tuesday, closing at ₹395.80, up by ₹15.50 or 4.08%, after its oil and gas arm, Cairn Oil & Gas, secured seven exploration blocks under the Open Acreage Licensing Policy (OALP) Round IX.

The latest win strengthens Cairn’s position as India’s largest private oil and gas exploration company. With these new blocks—4 onshore and 3 shallow water—Cairn’s total asset base now stands at 69 blocks, covering over 73,000 square kilometers across India.

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This move marks a strategic step toward Vedanta’s goal of contributing 50% to India’s domestic crude production, aligning with national energy self-reliance goals.

A Bold Play in India’s Energy Landscape

Cairn bagged 7 out of the 28 blocks awarded in the latest auction, held under India’s OALP regime, administered by the Directorate General of Hydrocarbons. The new blocks are located across the Cambay, Saurashtra, and Mumbai basins—key regions for oil and gas prospects.

This aggressive expansion comes after years of active participation in previous OALP rounds. Cairn had earlier won 36 blocks in OALP-I, 5 in OALP-II, and 3 in OALP-III. In all these blocks, Cairn holds 100% participatory interest, giving it full control over exploration and development.

Also Read: Oil Market Just Hit Pause—But for How Long? The Truth Behind the Calm!

Strengthening the West Coast Portfolio

The acquisition opens new opportunities for exploration and production (E&P) on India’s West Coast. Cairn already operates the Lakshmi and Gauri fields in the offshore Cambay basin (CB/OS-2 block) near Suvali, Surat, and the Jaya field in Bharuch, Gujarat.

With the new blocks in place, Cairn plans to accelerate investment in this region. The company is also planning an appraisal and development campaign in the Ambe shallow water block, located in the Gulf of Cambay under the Discovered Small Fields (DSF) policy.

These developments signal a renewed push to tap into underexplored shallow water regions, which offer easier access and faster returns than deepwater blocks.

Also Read: Dabur India Eyes UK Market: What’s Driving This Bold Overseas Move?

Market Cheers the Move

The market responded positively to the announcement. Vedanta shares surged, reflecting investor optimism over the company’s expanding energy footprint and long-term growth strategy.

This move comes at a time when energy security and domestic production are top priorities. With global oil prices fluctuating and import costs rising, India’s focus on local exploration has only intensified.

By strengthening its portfolio through OALP, Cairn is positioning itself as a key player in this national energy mission.

What’s Next for Cairn?

With 69 blocks in hand and a strong presence in key hydrocarbon basins, Cairn is expected to ramp up drilling activities and exploration campaigns throughout 2025 and beyond.

The company’s diversified portfolio across NELP, pre-NELP, DSF, and now OALP blocks puts it in a robust position to drive domestic crude output.

As India aims to reduce its dependency on oil imports, Cairn’s aggressive strategy may offer both operational and financial returns for Vedanta shareholders.

Also Read: Andhra Pradesh Hands TCS 21 Acres for Just ₹1: A Bold Move to Rival Bengaluru and Hyderabad

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TAGGED:Cairn blocksCairn Oilcrude oilenergy newsEnergy SectorIndia energyOALP Round IXoil and gas Indiaoil explorationshallow water blocksStock marketVedantaVedanta shares surgeWest Coast oil
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