Cairn Oil and Gas, which has recently won 10 blocks in oil and gas lease property (OLP) 2, has no immediate plans to enter gas distribution, a top official has said.

“In OLP 2 and 3, timeline is three years from the date of clearance,” Ajay Dixit, CEO of the company, told CNBC-TV18.

Talking about city gas business, he further said, “At the moment we want to concentrate on our core area that is upstream and we are upbeat about it and we want to complete this part. We do not have thoughts on distribution at the moment.”

“For exploration the investment could be in the range of $ 200-250 million which will be spreading along on these three years,” he added.

“We have invested close to $3 billion and this amount is getting invested in turnkey project which shall start maturing by the end of Q3 and Q4 and there would be a significant addition as we move forward,” he pointed out.