Oil India Limited (OIL) is communicating with TotalEnergies, for collaboration on hydrocarbon exploration off the Indian coast. The partnership could either be in the form of a technical collaboration or an equity partnership. OIL is also planning to participate in the upcoming bidding round under the Open Acreage Licensing Policy (OALP).
Additionally, OIL is engaging with other global oil companies, including Thailand’s PTTEP, Malaysia’s Petronas, and Vietnam’s Petrovietnam, for offshore block exploration.
The company signed a Memorandum of Understanding (MoU) with PTTEP and has moved into the MoU phase with Petronas after signing a non-disclosure agreement. OIL aims to produce 3.8 million tons of crude oil and 3.8 billion cubic meters of natural gas in the fiscal year 2025.
As reported by projectstoday.com, OIL plans to begin drilling operations in the Andaman offshore blocks by October and is preparing to issue a tender next month for drilling operations in an offshore block in Kerala.
