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Vedanta names new CEO for Cairn Oil & Gas

Subsidiary of mining giant appoints new boss as Sudhir Mathur steps aside

Cairn Oil & Gas, the industry subsidiary of UK-based Vedanta Resources, has appointed Ajay Kumar Dixit as its new chief executive.

Dixit replaces Sudhir Mathur who recently resigned.

Cairn said in a statement “that after seven successful years with the company”, Mathur has moved on “to pursue personal endeavours.”

Dixit was serving as the acting chief executive of Vedanta’s aluminium and power business before being elevated to the new role, the company added.

“Ajay brings 39 years of rich experience in the energy sector and joined Vedanta in 2015 from Siemens where he was chief executive - energy for South Asia,” it said.

“He brings deep experience in strategy, operations, technology, finance and regulatory affairs,” the company added.

Cairn Oil & Gas is undergoing a crucial transformation phase as it’s embarking on the development of more than 40 oil and gas blocks that were recently awarded by India’s during its first ever open acreage and licensing round.

Cairn said that Dixit will support the company’s vision “to realise the full potential of Barmer block, grow the offshore business, appraisal of new blocks under OALP I and DSF II (discovered small fields), and in continuing to steer a strong and high growth organisation.”

Srinivasan Venkatakrishnan, the chief executive of Vedanta, said: “We are delighted to appoint Ajay as chief executive of our oil and gas business. Ajay has a deep understanding of our business and the markets we operate in.”

Cairn is India’s largest private sector oil & gas exploration player and produces about 200,000 barrels of oil equivalent per day, which is about 25% of India’s crude production.

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