Guwahati: Assam Chief Minister Himanta Biswa Sarma held crucial discussions with officials from Vedanta Group to outline a comprehensive plan for the company’s proposed Rs 50,000 crore investment in the state’s energy sector. This significant investment aims to boost the region’s oil and gas production, making it a dominant hydrocarbon hub.
The investment, announced by Vedanta Group Chairman Anil Agarwal in February, will be spread over the next 3-4 years. Vedanta’s group firm Cairn Oil & Gas has already invested around Rs 2,500 crore in Assam and Tripura. With this new investment, the company aims to produce 1,00,000 barrels of oil and gas per day, generating direct and indirect employment opportunities for 1 lakh youths.
Cairn Oil & Gas currently holds an acreage of 7,650 sq km in the Arakan basin in Assam, with a portfolio of 15 exploration blocks. The company’s Hazarigaon field in Assam has been operational since 2023, supplying gas to nearby tea estates.
The Assam government is prioritizing big-ticket investment proposals, ensuring their implementation this fiscal year. “At #AdvantageAssam2, we received investment commitments of Rs 5.19 lakh crore, of which Vedanta Group has set a target of investing Rs 50,000 crore in the state,” Sarma said. The meeting aimed to establish a timeline for realizing these investments, focusing on energy exploration and drilling.
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