New Delhi/Mumbai, (Business Correspondent) Mar 19 : Vedanta Group Chairman Shri Anil Agarwal likened Assam to Houston in terms of its underground reserves of black gold and pushed for a ‘supportive ecosystem for micro-entrepreneurs in oil and gas exploration. He announced plans to invest Rs 50,000 crore in Assam and produce 100,000 barrels of oil per day in the next two years. Vedanta subsidiary, Cairn Oil & Gas Cairn currently holds an acreage of 7,650 sq km in the Arakan basin in Assam and its footprint includes a portfolio of 15 exploration blocks, including 12 blocks under the Open Acreage Licensing Policy (OALP) and 3 Discovered Small Fields (DSF).
“The mantra for Assam’s future is simple: Exploration, exploration, exploration. Assam will lead the way,” Agarwal said at Advantage Assam 2.0. – the state’s global investment conclave in Guwahati. The summit was attended by Hon’ble Prime Minister of India, Shri Narendra Modi, the Hon’ble Chief Minister of Assam, Dr. Himanta Biswa Sarma, and other dignitaries.
“Assam is a land of immense blessings. From its breathtaking landscapes – lush tea gardens, dense forests, and the mighty Brahmaputra – to its rich underground reserves of hydrocarbons, the state is gifted with abundance. For over 200 years, Assam has been at the heart of India’s tea cultivation. Today, a new wave of entrepreneurship is emerging, with small tea gardens flourishing alongside the traditional large estates. The reduced regulatory hurdles for small tea growers have made it easier for them to do business, unlocking opportunities for local entrepreneurs,” Agarwal said.
“I believe a similar model can be applied to oil and gas exploration. Just as small tea gardens are transforming Assam’s tea industry, a supportive ecosystem for micro-entrepreneurs in oil & gas exploration could revolutionize the sector. In the U.S., the government facilitates small-scale drilling by offering seamless online approvals, allowing independent entrepreneurs to extract crude and send it to refineries. Assam can adopt this model to boost exploration and production,” he added.
