Vedanta to invest $650 million in new oil and gas blocks
- IBEF
- July 17, 2019
Vedanta Ltd will invest US$ 650 million in its new oil and gas blocks. This block was won in the government's last two rounds of auctions.
It had won a total of 53 oil and gas blocks under the government's open acreage licensing policy (OALP) and Discovered Small Field (DSF) rounds.
The company intends to invest Rs 20,000 crore ($2.9 billion) in investigation and production of oil and gas over the coming three years which comprises its present and new fields.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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