Vedanta Group to invest ₹50,000 crore over 3-4 years in oil and gas in Assam, Tripura

Mining major Vedanta Group chairman Anil Agarwal on Tuesday (February 25, 2025) announced that the firm will pump in ₹50,000 crore in the oil and gas sector in Assam and Tripura over the next 3-4 years.

Speaking at the inaugural function of the Advantage Assam investment summit here, he said group firm Cairn Oil & Gas has already invested around ₹2,500 crore in the two States of the northeast region.

“Assam has abundant natural resources and has the potential to become the world’s mega basin. We are poised to play a pivotal role in Assam’s sustainable growth and development,” he said.

Mr. Agarwal said that the company has firmed up plans to “invest ₹50,000 crore in Assam and Tripura’s oil and gas sector over the next 3-4 years”.

“With such an investment, we will produce 1,00,000 barrels of oil and gas per day, making the region a dominant hydrocarbon hub. It will also create direct and indirect employment opportunities for 1 lakh youths,” he added.

Describing Assam as an attractive investment destination, Mr. Agarwal expressed his company’s commitment to play a pivotal role in the State’s long-term and sustainable growth.

He highlighted Assam’s strategic location, pro-investment policies and expanding infrastructure as key factors to fuel India’s growth.

The investment will provide for the establishment of oil and gas exploration and production facilities, alongside extensive corporate social responsibility (CSR) initiatives, such as establishing more ‘Anganwadi’ centres, handloom skill centres, digital classrooms for women and children, and promoting sports, Mr. Agarwal said.

Cairn presently holds an acreage of 7,650 sq km in the Arakan basin in Assam and its footprint includes a portfolio of 15 exploration blocks.

Mr. Agarwal said that its Hazarigaon field in Assam has been under production since 2023, and supplying gas to the neighbouring tea estates.