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Vedanta expecting formation of U.S. oilfield services consortium to develop new India blocks: Report

Vedanta is reportedly expecting U.S. oilfield services companies to set up consortia to help develop the 41 blocks in India acquired this year by its subsidiary — Cairn Oil & Gas unit. The company has won 41 of the 55 blocks auctioned under India’s first licensing round for small discovered fields earlier this year. The company expects the blocks to eventually produce 500,000 barrels per day of oil equivalent.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.