New Delhi: Oil India Ltd (OIL) and Oil & Natural Gas Corporation Ltd (ONGC) have signed a joint operating agreement (JOA) for three exploration blocks awarded under the Open Acreage Licensing Policy (OALP) Bid Round-IX, covering an area of around 10,965 sq km.
The blocks include MN-UDWHP-2023/1 in the Mahanadi Basin, located in the ultra-deep waters of the Bay of Bengal beyond the 2,500-metre isobath, CB-ONHP-2022/2, and AS-ONHP-2022/2 in the south-west of Meghalaya within the Assam Shelf Basin. The ministry said the Meghalaya block lies in one of the most challenging exploration terrains and could open new hydrocarbon opportunities.
The agreement was signed on August 12, 2025, at Deendayal Upadhyay Urja Bhavan in New Delhi by Anup Kumar, Executive Director (E&D), OIL, and Dinesh Singh, Chief (Exploration JV & BD), ONGC, in the presence of senior officials from both companies.
“This collaboration reflects a strong synergy between the two national oil companies to drive hydrocarbon exploration and sustainable growth to meet the country’s energy security needs,” the statement said.
