July 24 (Reuters) - Cairn India Ltd, a unit of London-listed Vedanta Resources Plc, will invest more than $3 billion over the next three years to explore and produce more oil, its chairman said on Wednesday.
The investment will be fully funded from Cairn India's cash resources and will target adding 530 million barrels of oil to its reserves, Navin Agarwal told an annual shareholders meeting in Mumbai.
"We have a well-balanced portfolio of exploration, development and producing assets and a clear plan, which will see us aggressively pursue exploration and development opportunities in the months and years ahead," he said.
Copyright 2016 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you