New Delhi, India \u2013 March 11, 2025: Oil India Limited (OIL) is actively seeking collaborations with international oil companies (IOCs) for deep and ultra-deepwater exploration as the Indian government ramps up efforts to attract global investment in its energy sector.<\/p>\n
Chairman and Managing Director Ranjit Rath emphasized that the Oilfields (Regulation and Development) Amendment Bill, 2024\u2014designed to facilitate investments in India’s oil and gas exploration projects\u2014would serve as a major enabler for IOCs to view India as an attractive exploration hub.<\/p>\n
\n\u201cFor our collaboration, the ORD Act will be a game-changer. Given our presence in Andaman and Nicobar and ongoing drilling activities, international companies are showing significant interest. We are in discussions with several global players, with MOUs in place under confidentiality agreements as they review our data and conduct internal assessments.\u201d \u2013 Ranjit Rath<\/p>\n<\/blockquote>\n
The ORD Act, approved by the Rajya Sabha on December 5, 2024, awaits final approval in the Lok Sabha. The new law would replace the Oilfields (Regulation and Development) Act of 1948, which was last amended in 1969, modernizing India\u2019s upstream oil and gas regulations.<\/p>\n
Why Oil India is Seeking Global Partnerships?<\/h2>\n
Oil India\u2019s push for international collaborations is driven by two major factors:<\/p>\n
1. Technology Transfer for Deepwater Exploration<\/h3>\n
\n
- Deep and ultra-deepwater drilling requires advanced seismic imaging, drilling technologies, and enhanced exploration methods, which leading global energy companies like Shell, TotalEnergies, BP, and ExxonMobil specialize in.<\/li>\n
- Partnering with IOCs will bring cutting-edge technology to India, boosting exploration efficiency.<\/li>\n<\/ul>\n
2. Risk Mitigation in High-Cost Exploration<\/h3>\n
\n
- Exploring difficult terrains, especially offshore deepwater blocks, is a capital-intensive and high-risk activity.<\/li>\n
- Collaboration with international firms reduces financial exposure and enhances technical expertise, improving the success rate of hydrocarbon discovery.<\/li>\n<\/ul>\n
\n\u201cSince we have unlocked \u2018no-go\u2019 zones in India\u2019s Exclusive Economic Zone (EEZ)\u2014spanning both the East Coast and West Coast, including the Andaman basin\u2014we are keen to collaborate with global players. This would allow us to hedge risks while aggressively expanding our exploration activities.\u201d \u2013 Ranjit Rath<\/p>\n<\/blockquote>\n
India\u2019s Largest Offshore Bidding Round to Attract IOCs<\/h2>\n
The Indian government launched its largest Open Acreage Licensing Policy (OALP) bidding round on February 11, 2025, offering 25 oil and gas exploration blocks.<\/p>\n
\n
- 19 of these blocks are offshore, making it a crucial opportunity for global energy companies interested in deepwater exploration.<\/li>\n
- 6 blocks are on land, while one block falls under the deepwater category, and 12 blocks are in ultra-deepwater zones.<\/li>\n<\/ul>\n
\n\u201cIndia has opened up 99% of previously restricted \u2018no-go\u2019 exploration areas. Out of 25 blocks in OALP-X, 16 are in these \u2018no-go\u2019 zones, which were earlier closed due to environmental or regulatory restrictions.\u201d \u2013 Government statement<\/p>\n<\/blockquote>\n
With the OALP-IX round also awaiting finalization, global firms have a chance to enter India\u2019s upstream oil and gas sector through joint bidding and strategic partnerships.<\/p>\n
Oil India\u2019s Collaboration with Petrobras for Offshore Exploration<\/h2>\n
Among international partners, Oil India is exploring a joint bidding agreement with Petrobras, Brazil\u2019s state-run oil and gas major.<\/p>\n
Highlights:<\/h3>\n
\n
- At India Energy Week (IEW) 2025, Oil India and Petrobras signed a Memorandum of Understanding (MoU) on February 12, 2025, for collaboration in offshore hydrocarbon exploration.<\/li>\n
- Petrobras, with its vast experience in deepwater drilling in the Atlantic Ocean, brings critical expertise to India\u2019s offshore projects.<\/li>\n
- Joint bidding for the OALP-X round is under discussion, with potential partnerships for OALP-IX as well.<\/li>\n<\/ul>\n
\n\u201cWe are looking at Petrobras as a key partner in deepwater and ultra-deepwater exploration. Their technological expertise in the Atlantic will be crucial in advancing India\u2019s offshore hydrocarbon exploration projects.\u201d \u2013 Ranjit Rath<\/p>\n<\/blockquote>\n
Andaman Basin: A High-Potential Exploration Zone<\/h2>\n
Why Andaman is Emerging as a Key Hydrocarbon Region?<\/h3>\n
\n
- The Andaman basin is projected to hold vast hydrocarbon reserves, making it a strategic priority for exploration.<\/li>\n
- Oil India has already secured two shallow-water blocks (AN-OSHP-2018\/1 and AN-OSHP-2018\/2) under the third OALP round.<\/li>\n<\/ul>\n
Drilling and Investment Plans in Andaman<\/h3>\n
\n
- Oil India has committed \u20b92,500 crore in capital expenditure for its first phase of drilling in the Andaman basin.<\/li>\n
- Four wells are planned:\n
\n
- The first well has already reached a depth of 3,800 meters.<\/li>\n
- The company plans to drill three more wells, each up to 4,000 meters deep.<\/li>\n<\/ul>\n<\/li>\n
- International consultants and in-house studies confirm the high potential of the Andaman basin.<\/li>\n<\/ul>\n
\n\u201cWe are confident about Andaman\u2019s hydrocarbon potential. With international partnerships, we aim to leverage advanced exploration methods to maximize our success.\u201d \u2013 Ranjit Rath<\/p>\n<\/blockquote>\n
Government\u2019s Push to Unlock \u2018No-Go\u2019 Areas<\/h3>\n
\n
- Andaman\u2019s exploration zones were previously categorized as \u2018no-go\u2019 areas due to environmental restrictions.<\/li>\n
- Now, with policy changes, over 2,25,918 square kilometers of sedimentary basins are open for exploration, including:\n
\n
- 18,074 sq km of shallow-water areas<\/li>\n
- 2,07,844 sq km of deepwater areas<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
According to the Directorate General of Hydrocarbons (DGH), Andaman is classified as a Category II basin, meaning it has sub-commercial discoveries but requires further exploration to confirm recoverable reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"
Government Reforms, OALP Bidding Round Open Doors for Global Collaboration New Delhi, India \u2013 March 11, 2025: Oil India Limited (OIL) is actively seeking collaborations with international oil companies (IOCs) for deep and ultra-deepwater exploration as the Indian government ramps up efforts to attract global investment in its energy sector. Chairman and Managing Director Ranjit […]<\/p>\n","protected":false},"author":4,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1362,615],"tags":[],"ppma_author":[1331],"class_list":{"0":"post-5038","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance-and-economy-news","8":"category-stock-market-news"}," _eael_post_view_count":0,"authors":[{"term_id":1331,"user_id":4,"is_guest":0,"slug":"sourabh","display_name":"Sourabh Sharma","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/5038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=5038"}],"version-history":[{"count":1,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/5038\/revisions"}],"predecessor-version":[{"id":5044,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/5038\/revisions\/5044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/5043"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=5038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=5038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=5038"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=5038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}