Stock Report

OIL and TotalEnergies Forge Deepwater Alliance to Unlock India's Offshore Potential

Posted On : 2025-11-19 14:40:22( TIMEZONE : IST )

Oil India Limited (OIL) and TotalEnergies inked a "Technology Service Agreement" on 19th November 2025 in New Delhi to strengthen strategic collaboration for exploration activities in Deep and Ultra-deepwater Offshore frontiers of Indian sedimentary Basins, including the stratigraphic wells as mandated by the Govt. of India, in the gracious presence of Sh Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas and joined by Additional Secretary, Sh Praveen Mal Khanooja, and Dr. Ranjit Rath, Chairman & Managing Director, OIL.

The agreement was signed by Dr. Sangkaran Ratnam, CMD, TotalEnergies Gas & Power Projects India Private Ltd. and Shri Saloma Yomdo, Director (E&D), OIL in presence of the dignitaries and the senior officials of TotalEnergies and OIL.

The agreement puts in place 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, exploration in OIL's OALP-IX Ultradeep water Blocks in Mahanadi & KrishnaGodavari Basins. It also covers evaluation of opportunities under ongoing OALP X / future bid rounds and provide support during stratigraphic well drilling initiative in offshore Category-II & III Basins.

The strategic collaboration marks a significant milestone in OIL's commitment to pursue exploration in offshore frontiers towards possible hydrocarbon discovery and secure sustainable energy future for India.

Shares of Oil India Limited was last trading in BSE at Rs. 433.55 as compared to the previous close of Rs. 436.10. The total number of shares traded during the day was 52222 in over 1444 trades.

The stock hit an intraday high of Rs. 436.95 and intraday low of 430.90. The net turnover during the day was Rs. 22622798.00.