The agreement established a framework to leverage TotalEnergies' world-class expertise in deep & ultradeep water exploration value chain across OIL's 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 OIL's 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 company's 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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