New Delhi, May 23: Union Minister of Petroleum and Natural Gas Hardeep Singh Puri announced on Saturday that Oil India Limited (OIL), a Maharatna public sector company, has successfully discovered a new gas reserve in the Dandewala area of Rajasthan.
In a post on the social media platform X, Puri stated that this achievement will strengthen India’s domestic energy production and mark a new chapter in the country’s journey towards energy self-reliance.
He revealed that natural gas flow has commenced at a rate of approximately 25,000 standard cubic meters per day from the shallow Sanu formation in the Dandewala area.
Puri remarked, “India’s efforts to bolster domestic energy production have written a new chapter in Rajasthan.”
He emphasized that under the leadership of Prime Minister Narendra Modi, this achievement will accelerate India’s journey towards energy self-sufficiency.
The Union Minister praised Oil India Limited for its technical expertise, continuous efforts, and commitment that made this new gas field discovery possible.
This milestone comes at a time when India is focusing on reducing its dependence on imported energy and enhancing long-term energy security through domestic exploration and production activities.
Additionally, the company reported a 76% quarter-on-quarter increase in net profit for the fourth quarter of the fiscal year 2025-26. Its revenue rose by 10% to reach ₹10,013 crore.
Oil India’s EBITDA increased to ₹3,281 crore, up from ₹2,510 crore in the previous quarter. The EBITDA margin also improved to 32.8%, compared to 27.5% in the last quarter.
On Friday, Oil India’s shares closed at ₹500.45 on the NSE, reflecting a slight decline. However, the company’s stock has seen a rise of nearly 20% over the past six months and one year. Over the last five years, the PSU company’s shares have surged by more than 450%.
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