A New Depth: Oil India Sharpens its Edge in Global Exploration

Oil India is sharpening its upstream strategy with plans to expand operations across key onshore basins, including Northeast India, Rajasthan, Cambay, and Mahanadi, while also stepping up offshore exploration in deep and ultra-deep waters.

The company is increasingly leveraging artificial intelligence (AI) to support reservoir modelling, drilling optimisation, and predictive maintenance, alongside significant capital investments. Government initiatives such as the Open Acreage Licensing Policy (OALP-X), the Discovered Small Fields Round-IV, and coalbed methane block offerings are expected to accelerate exploration activity. Oil India has also made notable progress in expanding its domestic acreage and has confirmed hydrocarbon potential in previously unexplored regions, including gas discoveries in the Andaman and Nicobar Basin.

Highlighting the improved investment climate, Chairman and Managing Director Ranjit Rath said that recent policy reforms have made India more attractive for exploration, citing the release of nearly one million square kilometres of previously restricted areas along the eastern and western coasts and in the Andaman Basin, along with special incentives for Category-2 and Category-3 basins. He also underscored the significance of the Oilfields (Regulation and Development) Amendment Bill, 2024, in resolving long-standing regulatory challenges.

News by Rahul Yelligetti.