Vedanta Oil and Gas Ltd (VOGL IN) – Analyst Meet Update – RJ block extension remains a key monitorable – Not Rated
Published on 25 Jun 2026
We attended VOGL’s analyst meet, where management outlined its growth strategy following its demerger from the parent company. Management aims to increase reserves across its basins through ASP-led recovery, tight oil growth, gas exploration, offshore infill drilling, KG basin development, and new exploration opportunities. VOGL is now partnering with global players with deep domain expertise to enhance execution capabilities. The development plan is expected to be performance-incentive linked to drive volume growth. Management expects production of ~100kboe/d in FY27 with capex of ~USD700mn and EBITDA of USD656mn. Over the longer term, management targets to nearly double its production from ~88kboe/d in FY26 to 150kboe/d by FY29, while reducing opex to USD10-13/bbl from USD16.5/bbl in FY26 and increasing EBITDA to USD961mn in FY29 from USD492mn in FY26. According to VOGL, seismic data indicates significant hydrocarbon potential in the Deepwater KG Basin OALP Block 1, with potential production capacity of 180-200kboe/d.
