Oil India secures nine blocks in OALP IX round

Oil India Limited (OIL), a Maharatna CPSE, announced today that it has secured nine blocks under OALP Round IX. This acquisition adds over 51,000 sq. km to the company's exploration portfolio. OIL will operate six of these blocks as a sole operator and participate in the remaining three as a consortium partner. This move boosts OIL's total exploration acreage from 60,000 sq. km to 110,000 sq. km, representing an 85% increase. Notably, over 47,000 sq. km of the newly acquired acreage is located in deep and ultradeep offshore areas. The company also expands into the Cambay Basin and the state of Meghalaya.