Anil Agarwal-led Vedanta has received environmental clearance for the expansion of its oil and gas operations in Rajasthan, involving an investment of Rs 12,000 crore, reports Press Trust of India (PTI).
The firm which is one of the world's largest diversified natural resources company plans to expand onshore oil and gas production from the existing 'RJ-ON-90/1' block located in Barmer and Jalore districts.
Oil production is expected to soar to 4,00,000 BOPD (barrels oil per day) from the current 3,00,000 BOPDand gas generation will increase from 165 mmscfd (million standard cubic feed per day) to 750 mmscfd.
Though the Union environment ministry has granted the clearance, it is still subject to compliance with certain conditions.
While Cairn Oil and Gas division (part of Vedanta Group) operates the 'RJ-ON-90/1 block, hydrocarbon exploration, development and production activities in the block are undertaken by both Vedanta Ltd and state-run ONGC.
It was recently reported that the company had also discovered natural gas in the Krishna-Godavari basin in the Bay of Bengal. Even Oil and Natural Gas Corp (ONGC) has made new oil and gas discoveries in Madhya Pradesh and West Bengal which may potentially open up two more new sedimentary basins in the country.