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Oil India signs joint operating agreement with ONGC

13 Aug 2025 Evaluate

Oil India (OIL) and Oil & Natural Gas Corporation (ONGC) have entered into a Joint Operating Agreement (JOA) for Exploration Blocks MN-UDWHP2023/1, CB-ONHP-2022/2, and AS-ONHP-2022/2, awarded under OALP Bid Round-IX, covering an area of around 10,965 sq. km. The Block MN-UDWHP-2023/1 in Mahanadi Basin is located in the Ultradeep waters of Bay of Bengal with bathymetry beyond 2500 m isobath, whereas block AS-ONHP-2022/2 is located in the south-west of Meghalaya, one of the most challenging region of Assam Shelf Basin and shall open up new exploration opportunities in the hydrocarbon landscape.

This collaboration endeavour marks a momentous landmark, reflecting a strong synergy between the two National Oil Companies to drive the collective pursuit of hydrocarbon exploration and sustainable growth to meet the energy security of the country.

Oil India, a navratna company, is Asia's oldest and biggest pioneer oil exploration and Production Company.


Oil India Share Price

463.10 -14.30 (-3.00%)
15-Apr-2026 16:01 View Price Chart
Peers
Company Name CMP
ONGC 287.55
Oil India 463.10
Jindal Drilling&Inds 543.30
Deep Industries 492.00
Asian Energy Service 302.80
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