Cairn with a portfolio of 62 blocks covering an acreage of more than 60,000 sq. km in India, plans to contribute 50 percent to the country’s oil and gas production. The private oil and gas exploration and production firm aims to drill 20 exploration wells by 2025, targeting approx. 500 million barrels of oil equivalent (MMboe) gross unrisked prospective resources.

Additionally, the company’s reserves and resources (R&R) portfolio stood at 1.4 billion barrels of oil equivalent (Bboe) in FY24, recording an increase of 19 percent. Cairn’s total reserve and resource additions have exceeded production, leading to a resource replacement ratio (RRR) of 533 percent.

The company presently holds over five Bboe of prospective resources and has recorded a substantial increase in its gross contingent resources to 1.126 Bboe, a rise of 33 percent from the previous financial year. This visibly creates a larger pool of potentially recoverable oil and gas, and scope for increased domestic production. Cairn further plans to focus on maximising production from existing reserves to ensure consistent revenue streams, while exploring oil and gas reserves.

Further, the company's strategic management plan ensures a sustainable future to drive the vision of a self-reliant India for its energy requirements. By focusing on exploration success and resource conversion, it is building a robust reserve base for continued growth and shareholder value.