New Delhi, June 3, 2024: Cairn Oil & Gas, part of Vedanta Group and India’s leading private oil and gas exploration and production company, has set an ambitious goal to become Net Zero Carbon by 2030. This commitment underscores Cairn’s pioneering role in promoting Environmental, Social, and Corporate Governance (ESG) across the exploration and production (E&P) value chain.
Key Initiatives and Achievements
Over the past four years, Cairn has significantly reduced its potential gas flaring volume by 60%, a major step towards minimizing its carbon footprint. The company has also launched extensive tree and mangrove plantation programs to create substantial carbon sinks, already developing 2,835 acres of greenbelt, including 458 acres of mangroves.
Cairn’s biodiversity conservation and land restoration efforts are integral to its ESG strategy. The company plans to plant 2 million trees by 2030. Notably, Ravva in Andhra Pradesh has been transformed into a vibrant wetland of mangroves covering 86 acres. In Barmer, Rajasthan, Cairn has planted 0.2 million trees across 988 acres of forest land and is reviving the Khejari (Prosopis Cineraria) plants within the Thar Ecosystem. The overall greenbelt in Rajasthan now spans 1,600 acres. Additionally, Gujarat’s coastal areas have been rejuvenated with 372 acres of mangrove forest.
Cairn is committed to sourcing renewable energy to reduce its environmental impact. By 2030, the company plans to source up to 70 MW of renewable energy, with a 25 MW renewable Power Delivery Agreement set to commence in FY25. Solar rooftops have been installed at operational sites in Rajasthan and Gujarat, supporting this transition. Cairn is already a Net Water Positive company, boasting a Net Positive Water Impact (NPWI) of 1.12, and recycles more than 96% of its produced water through reinjection.
Waste to Power Project
Innovative low-carbon solutions are at the forefront of Cairn’s strategy. The company has undertaken a feasibility study for a ‘Waste to Power’ project, aiming to utilize lean gas, CO2-rich gas, solid waste, and other industrial waste to generate power using pressurized oxy-combustor technology. The resulting CO2 gas can then be utilized for enhanced oil recovery. Other initiatives include gas bottling and cascading for CNG players, gas transportation from satellite fields to the terminal, optimizing recycled gas compressors, installing ejectors to reduce flaring, and employing digital twin technology for comprehensive asset management.
Cairn Oil & Gas is steadfast in enhancing its operational performance in synergy with climate change mitigation. The company’s multi-faceted long-term strategy to achieve Net Zero Carbon by 2030 is underpinned by meticulous planning and exploring new opportunities for sustainable growth.
About Cairn Oil & Gas
Cairn Oil & Gas, a part of Vedanta Limited, is India’s largest private oil and gas exploration and production company, contributing about a quarter of the nation’s domestic crude oil production. The company has a world-class resource base, with interests in 62 blocks across India covering over 60,000 square kilometers. Cairn is known for its technological innovations in the industry and has producing assets in Rajasthan, Andhra Pradesh, Gujarat, and Assam. Over the last 30 years, Cairn has opened four frontier basins with numerous discoveries, reinforcing its faith in India’s hydrocarbon potential.
Also Read | GAIL Inaugurates 10 MW Green Hydrogen Plant in Madhya Pradesh