Cairn India Sees Natural Gas as Key Growth Area for the Company

Cairn India would prioritise leveraging natural gas potential of the block it holds in the western Indian state of Rajasthan, company’s Chairman Navin Agarwal said Wednesday.

Agarwal announced an investment of $3 billion towards the company's three-year capex programme, reported BusinessLine newspaper.

"We see natural gas as a key growth area with potential to play a significant role in the company's production growth in the years to come," Agarwal said at company’s AGM held in Mumbai.

According to BusinessLine, Cairn India is also currently working on a gas production plan which will include a new 24 inch/30 inch pipeline to connect to the national grid.

Agarwal added that the company has identified that the Raageshwari Deep gas field has significantly higher resources which can be ramped up for production through additional infrastructure.