Anil Agarwal bets $4 billion on oil hunt amid price surge

Cairn Oil & Gas, a unit of Vedanta, will spend as much as $4 billion over the next three years to more than triple its production, as high prices make investments attractive. India’s biggest non-state producer, controlled by billionaire Anil Agarwal, plans to drill more wells to explore new oil and gas reserves across its 51 blocks in the country, Prachur Sah, deputy chief executive officer of Cairn, said in an interview to Bloomberg TV on Friday. https://ift.tt/AnCclou