Oil India secures 9 blocks under OALP IX
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Oil India Limited (OIL) secured 9 blocks under OALP Round IX, adding over 51,000 Sq. km to its exploration portfolio — with 6 blocks as sole operator and 3 as consortium partner. This milestone propels OIL’s total exploration acreage from 60,000 sq. km to 110,000 sq. km, registering a remarkable 85% growth.
Significantly, OIL had submitted bids for 9 blocks and won all 9, achieving a 100% strike rate. This bold expansion clearly reflects OIL’s strategic vision and strong alignment with India’s energy priorities. Notably, over 47,000 sq. km of the newly awarded acreage lies in deep and ultradeep offshore waters, marking a breakthrough as OIL takes on technically complex and high-potential frontiers.
OIL has also debuted in the Cambay Basin and the state of Meghalaya. Recently, Cairn Oil & Gas, part of Vedanta Group and India’s largest private oil and gas producer, has acquired 7 new blocks in the Open Acreage Licensing Policy (OALP) Round IX auction.
