India story sewn up, Anil Agarwal to take Cairn global | business | Hindustan Times
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India story sewn up, Anil Agarwal to take Cairn global

business Updated: Dec 09, 2011 02:30 IST
Anupama Airy
Anupama Airy
Hindustan Times
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After completing its acquisition of a controlling stake in Cairn India for $8.67 billion (Rs 43,350 crore), NRI billionaire and the chairman of the India focussed Vedanta Resources Plc, Anil Agarwal has worked out plans to place Cairn India on a global map.

Agarwal said his group through Cairn India will scout for producing oil and gas assets abroad as also will bid overseas for oil and gas exploration blocks.

Agarwal said he will first scout for oil and gas resources in countries where his flagship company Vedanta Resources already has a strong presence like in Australia, Zambia, Ireland, Namibia and South Africa.

“In addition, we will also look at African countries for opportunities in the oil and gas space,” he said.

Sweet deal

Asked if discussions were underway to take up a big oil pipeline project in Uganda for evacuating heavy crude as is being produced from Cairn’s Mangla oil field in Rajasthan, he said, “We are seriously working on all such opportunities.”

The 600 kilometre-long Mangala Development Pipeline being developed by Cairn is the world’s longest continuously heated and insulated pipeline.