Oil India Limited (OIL) has entered into a technology services agreement with TotalEnergies, aimed at strengthening collaboration in deepwater and ultra-deepwater exploration across key offshore basins.
The agreement was signed in New Delhi on November 19, in the presence of senior government officials, including Petroleum Secretary Pankaj Jain, Additional Secretary Praveen Mal Khanooja and OIL Chairman and Managing Director Dr Ranjit Rath.
The partnership will allow OIL to tap into TotalEnergies’ global expertise across the deepwater exploration value chain. The framework includes support for the appraisal of existing gas discoveries in the Andaman Basin, exploration activities in OALP-IX ultra-deepwater blocks in the Mahanadi and Krishna–Godavari basins, and evaluation of opportunities under the ongoing and future OALP bidding rounds. It will also extend to stratigraphic well-drilling initiatives in offshore Category-II and III basins.
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OIL said the collaboration marks a key step in expanding its offshore portfolio and advancing efforts towards potential hydrocarbon discoveries in frontier areas, reinforcing its broader energy mandate.
As of 02:39 PM, shares of Oil India Ltd were trading at ₹436.80 on the NSE, up 0.80 percent, near the intraday high of ₹437.75.
