A committee under the Ministry of Environment, Forests and Climate Change has given the green signal to Cairn India for undertaking drilling works of 64 exploratory and appraisal wells in KG-OSN-2009/3 block in KG basin at Prakasam and Guntur districts of Andhra Pradesh.

A committee under the Ministry of Environment, Forests and Climate Change has given the green signal to Cairn India for undertaking drilling works of 64 exploratory and appraisal wells in KG-OSN-2009/3 block in KG basin at Prakasam and Guntur districts of Andhra Pradesh.

Cairn India, a Vedanta group company, would be investing $100 million (Rs.67,000 crore) this year, with focus on its Rajasthan gas fields.

Barmer has got yet another feather in its cap, as the country’s largest solar-based community drinking water project starts functioning at village Seniwala.

Cairn India reported a quarterly loss of Rs.10,948 crore for the March quarter, primarily led by impairment loss on goodwill and non-producing oil and gas assets due to a drop in oil prices.

Cairn India has approached the Delhi High Court seeking early government decisions on renewing its production sharing contract (PSC)

The government has rejected Cairn India´s plea to renew the contract for the prolific Rajasthan block with the existing terms and conditions and has asked for the investment plan for the renewal period to assess the extent to which the state´s share of profit can be raised.

Net revenue for Q2FY16 was reported at Rs.2,242 crore, which declined 15 per cent QoQ mainly due to fall in crude prices and increase in discount to Brent for Rajasthan crude. Average Brent prices fell 18 per cent QoQ to $50.5 per barrel driving our average oil realization down by 22 per cent QoQ to $43.7/bbl.

Stephane DECLEE, VP, Energy, Process & Utilities at Dassault Systemes, says Dassault is investing for the long haul and looking at the metals, oil & gas and power sectors. Give us an overview of the company in India.