Vedanta Limited has informed the Exchange regarding a press release dated April 15, 2025, titled "Cairn Oil & Gas, Vedanta acquires 7 new blocks in OALP Round-IX; gears up for rapid expansion in the West Coast of India".
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Vedanta Limited's subsidiary Cairn Oil & Gas has won 7 new exploration blocks under the government's OALP Round-IX (Open Acreage Licensing Policy) auction. This is a significant expansion of its upstream oil and gas portfolio. The blocks are located on the West Coast of India, signalling a focused push into that region. Through this acquisition, Cairn is gearing up for rapid expansion of its exploration and production footprint. The move strengthens Vedanta's vertical integration in the energy value chain beyond its existing zinc, aluminium, and power businesses.
Positive for long-term growth as it adds future production potential, though near-term impact on earnings is limited since these are exploration-stage assets. The expansion signals management's confidence in India's offshore E&P opportunity.