Vedanta Oil and Gas Ltd aims to increase its oil and gas production to over 150,000 barrels of oil equivalent per day (boepd) by fiscal year 2029, up from 87,000 boepd in fiscal 2026, according to an analyst who attended the company’s first investor meeting last week, as reported by livemint.com.
The company plans to drive growth through advanced techniques such as alkaline surfactant polymer (ASP) flooding, enhanced oil recovery methods, deep gas projects, and new exploration activities. These initiatives are part of a broader strategy to reverse a decade-long decline in production after Vedanta Oil demerged from its parent entity. The investor meet highlighted the company’s commitment to investing in these technologies to boost output.
This production target is significant in the context of India’s oil and gas sector, where domestic production has faced challenges in recent years. Vedanta Oil’s plan to nearly double output aligns with broader industry efforts to increase self-reliance and reduce import dependence. The company’s approach contrasts with peers that have focused less on enhanced recovery and exploration, positioning Vedanta Oil as a key player in the country’s energy landscape.
Vedanta Oil’s production goal of 150,000 boepd by FY29 was disclosed during its investor meet held last week, marking a pivotal moment for the newly listed company as it seeks to expand its footprint in India’s oil and gas sector.