Agarwal billionaire may invest in US oil services companies to expand Kern’s production

Written by Ron Bosso

Houston (Reuters) – The largest oil and gas company owned in India said Kerne India said it might invest in American service and engineering companies as part of a $ 5 billion in production development plan five times in the coming years.

“I want to spend $ 5 billion in developing my project to reach 500,000 barrels per day,” Anil Ajarwal said in an interview.

CAIRN, part of Vedanta Limited, produces 100,000 barrels per day. You plan to dig many wells of deep water exploration next year.

Agarwal, speaking during a visit to Houston, where he attended the Cereweek conference, said that Kern is seeking to work with 7 or 8 technical partners and buy 5 or 6 drilling platforms to explore and develop the maritime project.

“We look forward to developing 500 to 600 new wells,” Aguardo said. “We would like at least 20 devices to work in our field.”

“I can invest in the engineering company, Al -Hafara Company, because that will help me to explore in India better,” he said.

“I love American companies to join hands and take this project.”

(Participated in the reports of Ron Bosso; edited by Simon Web and David Gregorio)