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 14 domestic and 10 international assets. Our overseas assets span diverse regions, including Libya, Nigeria, USA, Venezuela, Canada, Russia, Oman, and the UAE.
IndianOil is an Operator in two domestic and one overseas block and is a non-operating partner in 12 domestic blocks & 9 overseas blocks. The overseas blocks include one exploratory block each in Libya, 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, and Nigerian assets in IndianOil’s overseas portfolio.
The consortium of ONGC and IndianOil marked a historic achievement by commencing CBM gas production from both its CBM assets, BK-CBM-2001/1, Jharkhand, during FY 2024-25 and NK-CBM-2001/1, Jharkhand in May 2025, thus adding to the company’s growth.
The Company strengthened its portfolio by successfully acquiring Mercator Petroleum Limited (MPL), resulting in obtaining 100% stake in Block CB-ONN-2005/9 (CB/9) located in the prolific Cambay Basin, Gujarat. MPL, now rebranded as IndianOil Upstream Venture Limited (IUVL), commenced production in November 2025, making the block the fourth domestic producing block under E&P’s portfolio.
At IndianOil’s first overseas operated asset in Abu, the Production Concession Agreement for the Ruwais discovery was executed in FY 2024-25, and developmental activities are currently underway.
Following the successful hydrocarbon discovery in the Shilaif Unconventional potential in Onshore Block-1, an appraisal plan has been proposed to evaluate and harness this promising resource.
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.
