Cairn Oil & Gas seeks bids for gas from Rajasthan block
New Delhi: Mining magnate Anil Agarwal’s Vedanta NSE 3.75 % Ltd on Monday invited bids for the sale of natural gas from its prolific Rajasthan block at rates equivalent to the price of imported LNG from the spot market or Brent oil price. Cairn Oil & Gas, Vedanta’s oil and gas arm, produces about 3.5 million standard cubic meters per day of gas from its largely oil-bearing block in Rajasthan, the firm said in a notice.
The output is being ramped-up to more than 5 mmscmd.
“The company invites Expression of Interest (EoI) from interested parties with proven capabilities and demonstrated presence in the natural gas business to participate in the national competitive e-auction process for the purchase of natural gas produced from our flagship block in Barmer, Rajasthan,” it said.
