Vedanta Oil and Gas Limited is facing an enforcement petition filed by Oil and Natural Gas Corporation Limited (ONGC) in the Hon'ble Delhi High Court regarding an arbitral award of approximately USD 37 million. The company disclosed this in a regulatory filing on July 21, 2026. The petition seeks the enforcement of an award dated July 31, 2023, passed in arbitration proceedings between ONGC and Vedanta Limited, with the amount applicable to Vedanta Oil and Gas and its subsidiaries.

The Hon'ble Delhi High Court issued a notice to the company to file its reply during a hearing held on July 20, 2026. The company stated that no interim adverse order has been passed against it. The next date of hearing is scheduled for September 11, 2026. Vedanta Oil and Gas clarified that the financial implications of the award, amounting to approximately USD 37 million, have already been provided for in the books of account.

Separately, the company reported receiving a demand letter from the Directorate General of Hydrocarbons (DGH) seeking liquidated damages of approximately USD 35 million plus interest. This claim relates to four blocks awarded under the Open Acreage Licensing Policy (OALP) rounds where the DGH did not grant further extensions. The company believes it has valid grounds and is pursuing legal remedies, including a request to the DGH to refer the dispute to the Committee for External Eminent Experts (CEEE).

Vedanta Oil and Gas is evaluating the enforcement petition and intends to pursue appropriate legal remedies. The financial impact of the DGH claim, if any, will be assessed and accounted for based on the outcome of those proceedings. The intimation was signed by Shivangi Dhanuka, Company Secretary and Compliance Officer.

At its Annual General Meeting (AGM), Vedanta Oil & Gas Co-Chairman outlined an ambitious growth agenda for the company, announcing a production target of 500,000 barrels per day alongside a major capital commitment of $5 billion earmarked for investment in oil and gas operations over the next 3 to 5 years. The dual announcement marks a significant strategic development, reflecting the company's intent to substantially scale up both output and capital deployment within its oil and gas segment.

Key Announcements at AGM

The Co-Chairman's disclosures at the AGM covered both the company's production ambitions and its long-term investment roadmap. The following table summarises the key parameters of the announcements:

Strategic Significance

The planned $5 billion investment represents a substantial long-term capital allocation to the oil and gas business, while the production target of 500,000 barrels per day signals the operational scale the company aims to achieve. The announcements, made at the AGM, provide shareholders and stakeholders with a direct indication of the company's intended direction for its oil and gas operations over the coming years. No further operational or financial details beyond the investment quantum, production target, and timeframe were disclosed as part of these announcements.