E & P
Forays into E&P
IndianOil’s business development initiatives continue to be driven by emerging opportunities and guided by its corporate vision of becoming “The Energy of India- a globally admired company”. Our business strategy focuses primarily on expansion across the hydrocarbon value chain.
To enhance upstream integration, IndianOil has been pursuing exploration & production activities both, within and outside the country in collaboration with consortium partners.
IndianOil has established a substantial E&P portfolio with participating interests ranging from 3% to 100% across 15 domestic and 11 international assets. Our overseas assets span diverse regions, including Libya, Gabon, Nigeria, USA, Venezuela, Canada, Russia, Oman, and the UAE.
IndianOil is an Operator in three domestic and one overseas block and is a non-operating partner in 12 domestic blocks & 10 overseas blocks. The overseas blocks include one exploratory block each in Libya and Gabon, development projects in Nigeria and Abu Dhabi, and producing assets in USA, Canada, Venezuela, Russia, Oman & UAE.
Exploration efforts made in these blocks have led to successes through hydrocarbon discoveries in Assam-Arakan onshore, and Gujarat-Kutch shallow water blocks in IndianOil’s domestic portfolio and in onshore Abu Dhabi, Libyan, Nigerian and Gabon assets in IndianOil’s overseas portfolio.
In domestic operated assets, preparations are underway for development drilling in operated asset in Assam while Petroleum Exploration License is awaited for start of Block activities in the other operated asset in Tamil Nadu.
The Company strengthened its portfolio by successfully acquiring Mercator Petroleum Limited (MPL) through the National Company Law Tribunal under the Corporate Insolvency Resolution Process, resulting in obtaining 100% stake in Block CB-ONN-2005/9 (CB/9) located in the prolific Cambay Basin, Gujarat.
The consortium of ONGC and IndianOil achieved a key milestone with the successful sale of CBM gas from block BK-CBM-2001/1 via the Eastern Hub of the Indian Gas Exchange (IGX) in Bokaro, Jharkhand. Thus, making BK-CBM block the second domestic producing block under E&P’s portfolio.
At IndianOil’s first overseas operated asset in Abu Dhabi, Hydrocarbon discovery has been made in 3 stages during hydrofracking operation in well XN-76 in Shilaif Formation.
In addition, Urja Bharat and ADNOC signed the Production Concession Agreement, along with supplementary agreements in September 2024, for the Ruwais discovery in the presence of His Highness the Crown Prince of Abu Dhabi during his visit to India at the invitation of Prime Minister Shri Narendra Modi. E&P Department has a state-of-the-art data interpretation centre “ANWESHAN”. It is being used for in-house data interpretation of operated and non-operated assets of IndianOil, and also in enhancing capabilities of geoscientists in interpretation. This centre provides opportunities to geoscientists to have in-hand experience of petroleum exploration and its allied operations in partnership with the operators of non-operated onshore & offshore assets in India and overseas.
