Oil India Share Price Rise as it Secured Nine New Blocks for Exploration

Oil India Limited (OIL), a Maharatna Central Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, has made significant progress in India’s energy sector. In a notable achievement, the company has secured 9 blocks in the ninth round of the Open Acreage Licensing Policy (OALP IX), showcasing its aggressive growth and deepening role in energy exploration.

A Milestone Achievement: Winning All 9 Bids

OIL’s success in winning all 9 blocks it bid for demonstrates a 100% strike rate — a testament to its strategic focus and technical expertise. This achievement has elevated its exploration acreage from 60,000 sq.km to an impressive 1,10,000 sq.km, marking an 85% increase. Out of these, six blocks are solely operated by OIL, while three are acquired in partnership through a consortium. Such a clean sweep not only enhances OIL’s competitive positioning but also reflects its commitment to India’s long-term energy strategy.

Strategic Entry into Frontier Areas

This round marks OIL’s entry into previously untapped regions, such as the Cambay Basin and the state of Meghalaya, presenting new geological prospects. A major portion of the newly acquired 47,000 sq.km lies in deep and ultra-deep offshore areas, signifying a move towards technically challenging but high-potential zones. These expansions align with the Government of India’s progressive policies, including the Hydrocarbon Exploration and Licensing Policy (HELP), Ease of Doing Business reforms, and the liberalisation of ‘No-Go’ areas.

Oil India Share Performance 

As of April 16, 2025,10:30 AM, Oil India Share Price is trading at ₹366.85, reflecting a 0.25% surge from the previous closing price. 

Conclusion

With this bold step, Oil India Limited has not only expanded its geographical footprint but also reinforced its strategic role in ensuring India’s energy security. This milestone signifies more than just acreage, it represents ambition, innovation, and the confident pursuit of a sustainable energy future.

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