Vedanta Oil Company plans to invest $5 billion to increase production by more than five times.

```htmlGelonghui July 14｜India's Vedanta Oil & Gas company announced that it will invest $5 billion over the next five years to significantly boost oil and gas production to approximately 500,000 barrels of oil equivalent per day. The goal is to help India reduce its reliance on energy imports and address the ongoing decline in output from domestic mature oil and gas fields. In the fiscal year ending March 31, the company's oil and gas fields—including its main asset in Rajasthan, western India—saw average daily production drop to just 87,200 barrels, whereas a decade ago this figure was over 210,000 barrels. Vedanta's development path reflects the common challenges faced by India's upstream oil and gas sector: dwindling production from mature fields and a lack of large new discoveries to fill the gap. Vedanta expects average daily output of about 100,000 barrels in this fiscal year. The company plans to boost recovery rates from mature reservoirs and develop new fields, aiming to make its production account for more than half of India's total crude output.```