AGCL enters agreement with Cairn Oil & Gas for the supply of 1 lakh SCMD gas from Hazarigaon Field in Assam

AGCL enters agreement with Cairn Oil & Gas for the supply of 1 lakh SCMD gas from Hazarigaon Field in Assam

Guwahati, 16 December, 2021: Cairn Oil & Gas, India’s largest private exploration and production company, has entered into a Gas Sales Agreement (GSA) with Assam Gas Company Ltd. (AGCL), a premier natural gas production and distribution company that functions as a key undertaking of the Assam government. Under this agreement, AGCL will ensure purchase of 1 lakh SCMD rich gas from Cairn’s Hazarigaon Field. The agreement was executed today at an event held in Guwahati in the presence of Mr. Chandra Mohan Patowary, Hon’ble Minister for Transport, Industries and Commerce, Skill Development, Welfare of Minorities, Govt. of Assam.

Speaking on the association, Mr. Gokul Chandra Swargiyari, Managing Director, AGCL, said, “We are delighted with the association with Cairn Oil & Gas that will improve energy access in Assam and boost the State’s many industries, particularly the big tea estates. At AGCL, we have robust plans to connect all towns within our operating area by supplying piped natural gas to 2 lakh domestic consumers in the next few years. As a clean energy provider and a responsible corporate citizen, we are determined to connect more domestic and industrial consumers to our existing network and reduce dependence on traditional fuels to contain carbon footprint and ensure energy access in the state.”

Discussing the finding and association with AGCL, Mr. Prachur Sah, Deputy CEO, Cairn Oil & Gas, said, “We understand the importance of alternate energy sources such as gas to reduce carbon footprint and simultaneously secure energy aatmanirbharta for India. We were awarded the Hazarigaon field, under the DSF (Round II). We have deployed best-in-class technology and practices to accelerate the exploration process and swiftly moved towards production and supply of gas. We are delighted with this new development in Assam and are looking forward to our partnership with AGCL to power the state’s critical tea industry alongside supporting other key sectors of the state. We see huge potential in the North-East region of India and remain committed to further contributing to the region’s economic growth and progress.”

Cairn is aligned with the government’s vision of making India a gas-based economy. Our vision is to double our gas production from the existing 1700 MMSCM of gas to 4700 MMSCM by 2026. The company is committed to sustainable economic development by achieving Net Zero Emission by 2050.

About Cairn Oil & Gas, Vedanta Ltd.

Cairn Oil & Gas, Vedanta Ltd., is the largest private oil and gas exploration and production company in India, accounting for more than a quarter of India’s domestic crude oil production. It has a world-class resource base, with a current interest in 58 blocks in India, including the 41 blocks under the Open Acreage Licensing Policy (OALP) Round I auction, five blocks each under Round II and Round III, and two awarded under the Discovered Small Fields (DSF) Round-II. In 2004, Cairn made the largest onshore discovery in more than two decades in India at Mangala, Rajasthan. In its operations of 20 years, Cairn has opened four frontier basins with numerous discoveries, 38 in Rajasthan alone. Cairn Oil & Gas has recently reiterated that it is a separate entity with no connection to Cairn Energy PLC, the Scottish oil and gas exploration company. The brand name ‘Cairn’ is now exclusively owned by Vedanta Limited, and all others will discontinue the use of the brand name ‘Cairn’.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies company have been featured in Dow Jones Sustainability Index 2020, and was conferred Frost & Sullivan Sustainability Awards 2020, CII Environmental Best Practices Award 2020, CSR Health Impact Award 2020, CII National Award 2020 for Excellence in Water Management, CII Digital Transformation Award 2020, ICSI National Award 2020 for excellence in Corporate Governance, People First HR Excellence Award 2020, ‘Company with Great Managers 2020’ by People Business and certified as a Great Place to Work 2021. Vedanta’s flagship Nand Ghar Project was identified as best CSR project by Government of Rajasthan. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

For more information, please visit www.cairnindia.com/www.vedantalimited.com

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About Assam Gas Company Ltd.

Assam Gas Company Ltd. (AGCL), a Category ‘A’ Govt. of Assam undertaking with its registered office at Duliajan, Assam, was formed in the year 1962. Today, it stands as one of the premier natural gas transmission and distribution companies in the country with over 700 km of steel pipelines and a sprawling network of PE distribution lines serving over 38,350 domestic, 1240 commercial, 415 industrial and several bulk consumers (Power, Petrochemicals, E & P and Fertilizer industries) in the districts of Dibrugarh, Tinsukia, Sibsagar, Charaideo, Jorhat, Golaghat and Majuli in upper Assam.
The company’s joint ventures DNPL, PBGPL, TNGCL etc., have shown exceptional performances over the years in their respective domains. AGCL commissioned the Assam’s first CNG station at Dibrugarh in 2019 and has further received license from MoP&NG to set up 120 integrated fuel retail outlets across North-East India in order to capitalize on the market potential for alternative green fuels. Moreover, the company plans to connect all the towns within its operating area with an aim of supplying piped natural gas to 2 lakh domestic consumers in the next few years.
As a clean energy provider and a responsible corporate citizen, the company plans for a rapid expansion plan to connect more domestic and industrial consumers to its existing network to reduce the usage of pollution causing traditional fuels which would further help in reducing the carbon footprint, in line with the global climate change norms.