Oil India inks pact with Total Energies for deepwater exploration in India

Oil India said that it has signed technology service agreement with Total Energies to explore activities in deep and ultra-deepwater offshore frontiers of Indian sedimentary basins.

The agreement established a framework to leverage TotalEnergies world-class expertise in deep & ultradeep water exploration value chain across OILs current & future offshore portfolio. It includes the ongoing appraisal programme of gas find in the shallow offshore blocks in Andaman Basin, as well as exploration activities in OILs OALP-IX Ultradeep water blocks in Mahanadi & KrishnaGodavari basins.

The agreement also covers evaluation of opportunities in the ongoing OALP X and future bid rounds , additionally to providing support during stratigraphic well-drilling initiative in offshore Category-II & III basins.

 

Oil India a Maharatna CPSE of the Government of India, is engaged in exploration, development, and production of crude oil and natural gas, transportation of crude oil, and production of LPG. It also provides various exploration & production (E&P)-related services for oil blocks.

The companys consolidated net profit declined 29.1% to Rs 1428.83 crore despite a 15.8% jump in net sales to Rs 8,394.11 crore in Q2 FY26 over Q2 FY25.

The scrip added 0.73% to Rs 436.70 on the BSE.

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