New Delhi: In a strategic move to strengthen India’s domestic energy exploration, Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited (OIL) have signed a Joint Operating Agreement (JOA) for three exploration blocks awarded under the Open Acreage Licensing Policy (OALP) Bid Round-IX. The agreement marks a key step in collaborative hydrocarbon exploration efforts across the country’s diverse geological basins.
Expanding Exploration Across Three Strategic Basins
The three blocks – two onland and one ultra-deepwater – span a combined area of approximately 10,964 square kilometres and are located in:
- Meghalaya (Assam Basin)
- Gujarat (Cambay Basin)
- Offshore Mahanadi Basin (eastern coast of India)
These blocks are expected to significantly contribute to assessing and unlocking hydrocarbon resources in these underexplored regions. ONGC will lead the consortium as the designated operator, overseeing all exploration and development activities.
Signing Ceremony Held in New Delhi
The agreement was formalized at a signing ceremony held at ONGC’s Deendayal Urja Bhavan in Vasant Kunj, New Delhi, in the presence of senior leadership from both companies. Key attendees included:
- Saloma Yomdo, Director (Exploration & Development), Oil India
- Arunangshu Sarkar, Director (Strategy & Corporate Affairs), ONGC
- Om Prakash Sinha, Director (Exploration), ONGC
The joint operating agreement reflects the strategic alignment between ONGC and OIL in India’s upstream energy sector.
A Milestone for India’s Energy Security
In a joint statement, the companies emphasized that the agreement represents “a significant milestone in collaborative energy exploration,” reinforcing the consortium’s “shared commitment to advancing India’s energy security and contributing to the nation’s long-term energy goals.”
By pooling technical expertise and operational strengths, ONGC and Oil India aim to fast-track exploration in these blocks, aligning with national priorities for reducing energy import dependence and tapping domestic resources more efficiently.
About ONGC
Oil and Natural Gas Corporation (ONGC) is India’s largest crude oil and natural gas company, under the Ministry of Petroleum & Natural Gas. Through its ONGC Energy Centre, the company is driving strategic energy innovations including geothermal, hydrogen, and solar technologies. ONGC plays a crucial role in ensuring India’s energy security while aligning with national clean energy goals.
About Oil India
Oil India Limited (OIL) is a leading Indian state-owned energy company, holding “Maharatna” status, engaged in the exploration and production of crude oil and natural gas, with a legacy spanning over six decades. It also produces Liquefied Petroleum Gas (LPG) and is involved in the transportation of crude oil and refined petroleum products through pipelines, holding a significant share in the country’s total crude oil and natural gas production.
