OIL and TotalEnergies Join Hands for Deepwater Exploration in India

Oil India Limited (OIL) and TotalEnergies signed a Technology Service Agreement on 19 November 2025 in New Delhi. The partnership aims to boost exploration work in India’s deepwater and ultra-deepwater offshore regions. 

The signing took place in the presence of top officials from the Ministry of Petroleum & Natural Gas, including Secretary Pankaj Jain and Additional Secretary Praveen Mal Khanooja, along with OIL CMD Dr. Ranjit Rath.

Key Leaders Present at the Signing

The agreement was signed by Dr. Sangkaran Ratnam, CMD of TotalEnergies Gas & Power Projects India, and Shri Saloma Yomdo, Director (Exploration & Development) at OIL, in the presence of senior leaders from both companies.

What the Agreement Covers

The partnership sets up a framework for OIL to benefit from TotalEnergies’ global expertise in deepwater and ultra-deepwater exploration.
It will support:

• Appraisal of the gas discovery in the shallow offshore blocks of the Andaman Basin
• Exploration of OIL’s OALP-IX ultra-deepwater blocks in the Mahanadi and Krishna-Godavari (KG) Basins
• Evaluation of new opportunities in OALP-X and future bid rounds
• Assistance for drilling stratigraphic wells in offshore Category II and III basins

A Major Boost to India’s Offshore Energy Plans

This partnership is an important step in OIL’s strategy to expand exploration in offshore areas. It supports India’s goal of discovering new hydrocarbon resources and ensuring a stable and sustainable energy future.

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Oil India Share Price Movement

Oil India share price (NSE: OIL) was trading at ₹436.55, up 0.74% as of 2:20 pm on November 19, 2025. The stock opened at ₹431.70 and touched an intraday high of ₹437.75, while the day’s low stood at ₹431.50. With a market capitalisation of ₹71,030 crore, the company trades at a P/E ratio of 10.82 and offers a dividend yield of 2.75%. Oil India’s share price remains well above its 52-week low of ₹325 but below its 52-week high of ₹529.

Conclusion

The collaboration between OIL and TotalEnergies brings together strong technical expertise and India’s growing exploration ambitions. It marks a crucial step toward unlocking the country’s offshore energy potential.

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