Vedanta to invest $245 million in 10 oil, gas blocks
NEW DELHI: Vedanta Ltd on Wednesday said it will invest $245 million for finding oil and natural gas over the next 3-4 years in the 10 areas it won in the latest licensing round.
The firm won 10 blocks – 7 onshore and 3 offshore, in the Open Acreage Licensing Policy (OALP) Round-II and III, winners of which were announced on Tuesday.
Vedanta had won 41 out of the 55 blocks in OALP-1 bid round and committed to invest $551 million.
