Oil India Limited — Updates, 15-04-2025: Press Release

Oil India Limited (OIL) has secured 9 blocks under OALP Round IX, significantly expanding its exploration portfolio by over 51,000 Sq.km. This includes 6 blocks where OIL will serve as the sole operator and 3 as a consortium partner, boosting its total exploration acreage from 60,000 Sq.km to 110,000 Sq.km, a remarkable 85% increase. Notably, OIL achieved a 100% strike rate by winning all the blocks it bid for, showcasing its strategic focus and technical capabilities.

This expansion is substantial as over 47,000 Sq.km of the new acreage is located in deep and ultradeep offshore waters, marking a significant step into technically complex regions with high potential. OIL has also entered the Cambay Basin and Meghalaya, seizing opportunities in previously untapped geological areas. Supported by the Government of India’s favorable policies, this development signals a growth phase for OIL as it plays a vital role in India's pursuit of energy security and self-reliance. Positive outlook ahead as OIL charts its future in the energy sector.