Cairn Oil & Gas to Hire 2000 Horsepower Drilling Rig from Parker Wellbore
According to reports, Cairn Oil & Gas, part of Vedanta Group and India's largest private oil and gas exploration and production company, has entered into an agreement to hire a high performance 2000 horsepower drilling rig from Parker Wellbore, recently acquired by Nabors Industries - a global technology provider. The pact will help expand the company's oil and gas exploration and production operations in India.
Cairn will deploy this state-of-the-art rig in Barmer, Rajasthan - the company's largest onshore producing asset in India, this monthThis deployment aligns with Cairn's ongoing efforts to increase production and support its exploration initiatives in the region.
Recently at CERAWeek 2025, Vedanta chairman Anil Agarwal shared the company's plan for India's energy sector growth. The company will be investing in brownfield projects to add 5 billion barrels of oil equivalent reserves, and produce 500,000 barrels per day at a cost of USD 5 per barrel, the statement said without giving timelines.
Hitesh Vaid, Chief Financial Officer at Cairn Oil & Gas says, "Cairn is leading large investments to accelerate exploration of unconventional resources in India. Through our collaboration with proven global partners, we are unlocking the untapped potential of oil & gas resources in the country.”
“This strategic partnership with Parker Wellbore will enable us to start drilling within the next few months, further enhancing our operational performance and contributing to our growth in with our vision to grow production," adds Hitesh.
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According to reports, Cairn has in its portfolio a proven petroleum system with high-quality source rock, multiple grabens with oil and gas plays in rift set up and limited areal extent with a gross thickness of 500 meters. Drilling of one well in oil play has provided evidence of the system's viability for further exploration and development.