July 28, 2026: Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited (OIL) have taken a major step forward in India’s energy exploration efforts by signing a Joint Operating Agreement (JOA) for three key blocks. The agreement, finalized on August 12, 2025, at ONGC’s Deendayal Urja Bhavan in New Delhi, covers two onshore blocks and one ultra-deepwater block awarded under the Open Acreage Licensing Policy (OALP) Bid Round-IX.

The blocks are strategically located across vital sedimentary basins in India, including Meghalaya in the Assam Basin, Gujarat in the Cambay Basin, and an offshore area in the Mahanadi Basin. Together, these blocks cover an extensive area of approximately 10,964 square kilometers. ONGC will serve as the Operator of the consortium, leading exploratory activities to assess and unlock the hydrocarbon potential of these regions.

The signing ceremony witnessed the presence of top officials, including Mr. Saloma Yomdo, Director (Exploration & Development) of Oil India; Mr. Arunangshu Sarkar, Director (Strategy & Corporate Affairs) of ONGC; and Mr. Om Prakash Sinha, Director (Exploration) of ONGC.

This collaboration marks a significant milestone in India’s pursuit of energy security. By combining expertise and resources, ONGC and OIL aim to boost hydrocarbon production and contribute substantially to the country’s long-term energy goals. The JOA exemplifies the growing partnership within India’s energy sector and underscores the commitment to tapping into domestic energy resources to meet rising demand.

(Source: Business Upturn)