Please refer the enclosed file.
Awaiting price reaction for this filing.
Vedanta's oil and gas arm, Cairn Oil & Gas, has won 7 blocks in India's Open Acreage Licensing Policy (OALP) Round-IX auction, making it the largest private player in the round (7 of 28 blocks awarded). The new blocks include 4 onshore and 3 shallow water blocks in the Cambay, Saurashtra, and Mumbai hydrocarbon basins. Cairn now holds 69 blocks covering about 73,000 sq.km. with 100% participatory interest, and gross 2P and 2C reserves of 1.4 billion barrels of oil equivalent. The expansion supports Cairn's stated goal of contributing 50% of India's domestic crude production. The contract signing took place on April 15, 2025, in the presence of India's Petroleum Minister Hardeep Singh Puri.
Positive long-term signal as Cairn significantly expands its exploration footprint and reserve base on the West Coast, but these are exploration-stage assets requiring further investment before they contribute to revenue or production.