Oil India Limited Signs Triple Strategic MoUs at India Energy Week 2026

GOA – Oil India Limited (OIL), the Maharatna CPSE, significantly bolstered its portfolio by signing three landmark Memoranda of Understanding (MoUs) at India Energy Week 2026. These agreements, signed between January 27 and 29, 2026, span the entire energy value chain—from traditional hydrocarbon exploration in frontier basins to cutting-edge waste-to-energy solutions.

1. OIL & ONGC: Expanding the Exploration Frontier

The first major agreement establishes a technical collaboration framework with Oil and Natural Gas Corporation (ONGC). This partnership is designed to leverage the combined technical expertise of India's two largest upstream companies.

• Focus Area: Joint evaluation and potential partnership for exploration opportunities under the OALP-X (Open Acreage Licensing Policy Round 10) and future bidding rounds.
• Strategic Intent: By pooling technical data and sharing exploration risks, the two giants aim to accelerate the appraisal of Indian sedimentary basins.
• Presence: Signed in the presence of top leadership, including Shri Saloma Yomdo (Director E&D, OIL) and ONGC Directors Shri Arunangshu Sarkar and Shri O.P. Sinha.

2. OIL & HPCL: Pioneering the Bio-Energy Ecosystem

In a move toward sustainable energy, OIL partnered with Hindustan Petroleum Corporation Limited (HPCL) to develop a Compressed Bio-Gas (CBG) project.

• Technology: The project will utilize HPCL's indigenously developed HP RAMP technology, which specializes in the efficient conversion of waste into compressed bio-gas.
• Roles: HPCL will serve as the technology provider, while OIL will lead the operational implementation of the CBG plant.
• Objective: This "Waste-to-Energy" initiative supports India’s circular economy goals and helps reduce carbon emissions in line with the nation's net-zero roadmap.

3. OIL & BPRL: Strengthening Upstream Synergies

The third MoU, signed on January 29, 2026, connects OIL with Bharat PetroResources Limited (BPRL), the upstream arm of BPCL.

• Collaboration Framework: Focuses on joint participation in exploration and development opportunities under OALP-X, DSF-IV (Discovered Small Fields Round 4), and future licensing rounds.
• Leadership presence: The ceremony was led by Dr. Ranjit Rath (CMD, OIL) and Shri Vikas (MD, BPRL).
• Significance: This agreement emphasizes risk-sharing and the optimization of exploration resources to improve the success rate of domestic E&P activities.