Corporate Aug 14, 2012
Days after Cairn India's former CEO Rahul Dhir put in his papers, the company is entering its growth phase with renewed focus on exploration. Its 'new venture's team' has already been tasked with finding global opportunities in the form of farm-in and acreage buys, reports CNBC-TV18's Nayantara Rai.
Apart from international opportunities, the company's priority includes resuming exploration activities at its prolific Rajasthan basin along with ONGC , its joint venture partner.
It has already planned a capital expenditure of $1.4 billion for exploration and new global opportunities and another $600 million for its Rajasthan basin till the end of financial year 2014, which is why there would be a production ramp up for the next three to five years.
More From Firstbiz Staff.