Strategic Expansion Adds 85% to Exploration Portfolio, Strengthening Domestic Energy Presence
April 16, 2025 . BSE Update Oil India Ltd. witnessed a modest rise in its share price on Wednesday following a major strategic win under the Government of India’s OALP (Open Acreage Licensing Policy) Round IX. The company’s stock was trading at ₹369.90 on the BSE, up by ₹3.50 or 0.96% from its previous close.
The scrip opened at ₹369.05 and recorded a high of ₹374.85 and a low of ₹368.80, with over 44,000 shares traded in early session. Oil India currently holds a market capitalization of ₹60,705 crore. Its 52-week high stands at ₹767.30 (August 30, 2024) and the low at ₹322.15 (April 7, 2025).
Oil India Achieves 100% Success Rate in OALP Round IX
Oil India successfully secured all nine blocks it bid for under the OALP Round IX, adding over 51,000 square kilometers to its exploration portfolio. Of these, six blocks will be operated solely by Oil India, while three will be jointly developed with consortium partners.
This move marks a significant milestone, increasing the company’s exploration acreage from 60,000 sq.km to 110,000 sq.km — an impressive 85% expansion. Notably, more than 47,000 sq.km of this new area lies in deep and ultra-deep offshore waters, showcasing the company’s willingness to explore complex and high-potential frontier basins.
Forays into New Frontiers: Cambay Basin and Meghalaya
Oil India has, for the first time, entered the Cambay Basin and the northeastern state of Meghalaya, opening doors to previously untapped geological provinces. This diversification strengthens its long-term strategic roadmap and aligns with India’s energy security goals.
A Navratna PSU and Asia’s oldest oil exploration and production company, Oil India’s bold bid and 100% strike rate reflect its robust technical capabilities, financial strength, and growing ambitions in upstream energy development.
Author Profile
- My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Latest entries
NationalMarch 2, 2026Gujarat Urban Development Mission to Receive Best Community Impact Project Award
Politics, NationalMarch 2, 2026Rahul Gandhi Engages in PAC Meeting in Telangana Amid Upcoming Rajya Sabha Elections
SPORTSMarch 2, 2026Afghanistan to Tour India for Test and ODI Series in June 2026
UDAIPURMarch 2, 2026Accessibility Issues at Udaipurs Urban Development Office for Disabled Individuals
Follow Us on WhatsApp
Leave a Comment