Cairn India has discovered oil and gas in an onland KG basin block. It made a discovery in the second well drilled in the block KG-ONN-2003/1 in Krishna Godavari basin. The company had won the block in the fifth round of bidding of New Exploration Licensing Round (NELP). The company has informed the oil regulator DGH about the discovery. Meanwhile, Vedanta Resources has concluded talks to acquire a majority stake in Cairn India.
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