New Delhi – Oil India Limited (OIL) and Brazil’s Petróleo Brasileiro S.A. (Petrobras) signed a Memorandum of Understanding (MoU) during India Energy Week (IEW) 2025 in New Delhi. The agreement commits both companies to jointly explore India’s deep and ultra-deep offshore hydrocarbon reserves, particularly in the Mahanadi and Andaman basins.
Marrying Global Expertise with Indian Ambition
The collaboration will leverage Petrobras’ renowned deepwater exploration capabilities alongside OIL’s domestic experience. This partnership aligns with government policies like HELP and OALP, supporting India’s mission of enhancing domestic hydrocarbon output.
Strategic Focus: Mahanadi & Andaman Basins
The MoU specifically targets the Mahanadi and Andaman sedimentary basins—areas rich in untapped deep-sea hydrocarbon potential. Both parties aim to combine technical expertise and risk-sharing frameworks to unlock these prolific regions.
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A Catalyst for India’s Energy Security
The initiative aligns closely with India’s broader energy strategy to reduce import dependency and strengthen local production. It also marks a significant step in fostering bilateral collaboration between Indian and Brazilian state-backed oil enterprises.
More About Petrobras
Petróleo Brasileiro S.A. (Petrobras) is the Brazilian state-controlled oil major. Known for its pioneering work in deep and ultra-deep offshore drilling and production, Petrobras brings globally respected expertise in offshore hydrocarbon exploration to the partnership.
About Oil India Limited
Oil India Limited (OIL) is a Maharatna PSU under the Ministry of Petroleum and Natural Gas. As a leading upstream oil and gas company, OIL is instrumental in India’s exploration, production, and energy security. Its ventures span onshore and offshore assets in India and abroad, supported by strong technical capabilities and strategic partnerships.
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