New Delhi, April 17 (IANS) Cairn Oil & Gas, a vertical of Vedanta Ltd, has appointed Ajay Dixit as its new Chief Executive Officer (CEO), said the company on Wenesday.

Dixit joined Vedanta in 2015 and now succeeds Sudhir Mathur as the CEO. Mathur held the office for seven years.

"His (Dixit) leadership will support Cairn's vision to realise the full potential of Barmer block, grow the offshore business, appraisal of new blocks under OALP-I and DSF-II and in continuing to steer a strong and high growth organisation," a statement by Cairn said.

Cairn produces approximately 200,000 barrels of oil equivalent per day, which is about 25 per cent of India's crude production and has a vision to take up its contribution to 50 per cent, it said.

The company has planned investments worth $3.5 billion over the next 3-4 years which will significantly ramp up its production.

--IANS rrb-sn/nir