Vedanta’s Anil Agarwal pitches for Micro-Entrepreneurship in Oil & Gas for Assam
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.
“Across the world, from the U.S. to Australia to the Middle East, underground resources are driving economic development. India’s geology is unique, offering immense untapped potential. Under our Hon’ble Prime Minister’s leadership, policies like Ease of Doing Business and self-certification have created a more business-friendly environment. In Assam, under the dynamic leadership of the Chief Minister, the energy and momentum we see today are truly inspiring,” he added.
He added, “Today, 90% of Assam’s petroleum sector is controlled by government entities, while private companies account for just 10% - we are proud to be part of that 10%. We are also encouraging broader participation in downstream industries, from refineries and lubricant production to gas-based industries. This is a bold step, but we draw confidence from our Hon’ble Prime Minister’s leadership - he has taught us to take risks and drive change.”
This MoU will foster Assam’s position as an industrial and economic powerhouse, contributing significantly to India’s vision of becoming a global leader while reaffirming Vedanta’s role as a catalyst in Assam’s transformation and India’s industrial evolution.
Vedanta’s Cairn Oil & Gas The company has been producing from its Hazarigaon field in Assam since 2023, the 1st Discovered Small Fields (DSF) block to go under production in the Northeast. It has been supplying gas to the neighbouring tea estates, giving a boost to tea production in the region and enabling farmers to switch from expensive coal-based energy sources to clean gas. The locally produced gas from the Hazarigaon field is also a prime contributor in fueling 100 CNG buses in Guwahati, supporting the clean energy initiative of the Government of Assam.
Cairn Oil & Gas, part of Vedanta Group, and India’s largest private Oil & Gas producer, committed to an investment in exploration and production of oil and gas worth Rs. 50,000 crores in the region on the opening day of Advantage Assam 2.0. - the state’s global investment conclave in Guwahati. The investment will provide for the establishment of world-class Oil & Gas E&P facilities in Assam, alongside extensive Corporate Social Responsibility (CSR) initiatives such as establishing more Nand Ghars (modernised anganwadis), expanding handloom skill centers, building digital classrooms for women and children, and promoting sports to ensure a brighter, more inclusive future for the Youth of the region.
