Cairn acquires 7 new blocks in OALP Round-IX

Cairn Oil & Gas acquired seven new blocks in the Open Acreage Licensing Policy (OALP) Round IX auction. The awarded new blocks include four onshore and three shallow water blocks located in the hydrocarbon basins of Cambay, Saurashtra and Mumbai.

With these additions, Cairn’s portfolio now expands to 69 blocks covering over 73,000 sq km area across the country. The company acquired 36 blocks in OALP Round-I, five blocks in OALP Round–II, and three in OALP Round–III. The company holds 100% participatory interest in all OALP blocks. Additionally, Cairn holds legacy blocks awarded under NELP and pre-NELP regimes.

The strategic addition of the seven new blocks will enable Cairn to invest in increasing oil and gas exploration and production in the West Coast. Cairn already operates Lakshmi and Gauri oil and gas fields in the offshore areas of the Cambay basin of the CB/0S-2 block located in Suvali, Surat and Jaya onshore field located in the Bharuch district of Gujarat. The company is also firming up the plans for an appraisal and development exploration campaign in the Ambe shallow water block (DSF) located in the Gulf of Cambay.