Vedanta Resources' natural gas subsidiary Cairn India has revealed its plans to invest $2 billion in oil and gas exploration as well as production over the next two years.

On the sidelines of the company's 6th annual general meeting in Mumbai, Cairn India Chairman Navin Agarwal told reporters that the company was ready to increase its focus on gas, and that the investment would be made in the company's domestic as well as oversees projects.

Mr. Agarwal also said $600 million of the planned $2 billion investment will be pumped in Rajasthan exploration alone.

Speaking on the topic, he said, "Over the next two years, we envisage a net capital expenditure of $2 billion to expand exploration and production of oil and gas. we plan to invest $600 million in Rajasthan exploration alone."

Cairn is also mulling over plans to commercialize gas production from its Rajasthan-based Barmer basin, which comprises three key oil fields viz. Mangala, Bhagyam and Aishwarya as well as gas fields of Saraswati and Raageshwari.

Cairn India, which Vedanta bought from British oil giant Cairn Energy, is currently producing 175,000 barrels of oil a day from its Rajasthan blocks. But, revised estimates suggest that the total Rajasthan resource base now has a potential of producing 300,000 barrels of oil per day.