Oil India Signs MoU with Petrobras at India Energy Week 2025

Oil India Limited (OIL), a Maharatna Central Public Sector Enterprise (CPSE) and one of India’s leading energy companies, has signed a Memorandum of Understanding (MoU) with Petrobras, Brazil’s state-controlled oil giant.

The agreement was formalised during India Energy Week (IEW) 2025 in New Delhi, signifying an important step towards bilateral cooperation in the energy sector.

The MoU was signed by Dr Ranjit Rath, Chairman & Managing Director of Oil India Limited, and Ms Magda Chambriard, CEO of Petrobras. This strategic collaboration is set to unlock potential hydrocarbon reserves in India’s offshore regions, furthering India’s aspirations in energy security and self-sufficiency.

The share price of Oil India reached an intraday high of ₹421.10 on the NSE. As of 10:06 AM, the stock was trading 1.29% lower.

Exploration Focus: India’s Deep and Ultra-Deep Offshore Regions

As per the agreement, OIL and Petrobras will jointly explore India’s deep and ultra-deep offshore basins, including key regions such as:

• Mahanadi Basin
• Andaman Basin
• Other sedimentary basins identified for exploration

This initiative aligns with India’s push to ramp up hydrocarbon exploration and production, in accordance with the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP). Both policies aim to facilitate investment in oil and gas exploration and improve domestic production.

Significance of the Collaboration

This partnership between Oil India and Petrobras is expected to:

• Strengthen bilateral ties between India and Brazil in the energy sector.
• Enhance technical cooperation in offshore hydrocarbon exploration.
• Leverage Petrobras’ deep-water expertise in India’s complex offshore basins.
• Support India’s goal of reducing dependence on energy imports through increased domestic production.

With Petrobras being a global leader in deep-water oil extraction and Oil India spearheading exploration in Indian waters, the synergy between the two companies could yield promising results for India’s energy security ambitions.

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