The actions of Oil India Limited (Oil) were quoted to ₹ 373.15, more in ₹ 7.20 or 1.97 percent in the NSE today at 1.40 pm.
Oil India Limited (OIL) has assured the nine blocks for which it offers under the open surface license policy (OALP) Ronda IX, adding more than 51000 square kilometers to its exploration portfolio, the company announced yesterday.
The acquisition increases the oil exploration acreage from 60,000 to 110,000 square kilometers, which represents a growth of 85 percent. Six of the blocks were insured as a single operator, while three were obligated as a partner of the Consortium.
Notable, more than 47,000 square kilometers of the newly awarded with Araareage are located in deep water and Ultradep on the high seas, which marks the entry of oil in technically challenging areas but of high potential. The company has also made its first foray into the Cambay basin and the state of Meghalaya.
Petroleum, a company from the central public sector of Maharatna under the Ministry of Petroleum and Natural Gas, attributed its expansion to government support policies, including the hydrocarbon exploration and license policy, ease of making “standards. And openings. The AAS.
The company characterized the 100 percent success rate in its offers as evidence of its “strategic approach, technical force and competitive advantage”, since it pursues the objectives of energy security and self -sufficiency of India.
Posted on April 16, 2025