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India's Shale Ambition: US Experts to Boost Output
26 Mar
Summary
- Cairn seeks 10 US shale experts to accelerate India's oil production.
- The company aims to quadruple daily output to 1 million barrels.
- India relies almost entirely on imported crude oil for its needs.
Vedanta Ltd.'s Cairn Oil & Gas is planning to significantly increase its daily oil output, aiming for the equivalent of 1 million barrels within the next decade. To achieve this, Cairn intends to hire ten American specialists to apply the established US shale playbook within India. This strategy is expected to reduce drilling and completion times by approximately one-third, thereby speeding up production increases.
The company's ambition is crucial for India's energy landscape, as the nation is almost entirely reliant on imported crude oil. Cairn executives are reportedly in Houston seeking to invest up to $5 billion with oilfield contractors. This move aligns with international efforts by oil contractors to expand their reach as US shale activity potentially decelerates. Cairn has already drilled four shale wells that are awaiting completion, demonstrating progress in their domestic field development.
