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Oil India, TotalEnergies in Talks for Exploration of Hydrocarbon Blocks

Oil India (OIL) is in talks with French energy company TotalEnergies for exploration of hydrocarbon blocks off India’s coast, either as a technical partner or a 'participating interest' (equity) partner. The company is looking to bid under the next open acreage licensing policy (OALP) bidding round.

 

OIL is also in discussion with other international oil companies, including PTT Exploration and Production Public Company in Thailand, Malaysian oil and gas company Petronas, and Vietnamese oil company Petrovietnam, for exploration of offshore blocks. The company has signed an MoU with PTTEP, and has already signed a non-disclosure agreement with Petronas, entering into the MoU stage. The company is targeting to produce 3.8 million tonne of oil equivalent crude oil in FY25 and 3.8 billion cubic mtrs. of natural gas.

 

Oil India is also looking to start its drilling operations in the Andaman blocks, and will soon be floating a tender to start drilling operations in the offshore block in Kerala.

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