Oil India Shares Rise After Securing All 9 Blocks in OALP Round IX

Strategic Expansion Adds 85% to Exploration Portfolio, Strengthening Domestic Energy Presence

April 16, 2025 . BSE Update Oil India Ltd. witnessed a modest rise in its share price on Wednesday following a major strategic win under the Government of India’s OALP (Open Acreage Licensing Policy) Round IX. The company’s stock was trading at ₹369.90 on the BSE, up by ₹3.50 or 0.96% from its previous close.

The scrip opened at ₹369.05 and recorded a high of ₹374.85 and a low of ₹368.80, with over 44,000 shares traded in early session. Oil India currently holds a market capitalization of ₹60,705 crore. Its 52-week high stands at ₹767.30 (August 30, 2024) and the low at ₹322.15 (April 7, 2025).

Oil India Achieves 100% Success Rate in OALP Round IX

Oil India successfully secured all nine blocks it bid for under the OALP Round IX, adding over 51,000 square kilometers to its exploration portfolio. Of these, six blocks will be operated solely by Oil India, while three will be jointly developed with consortium partners.

This move marks a significant milestone, increasing the company’s exploration acreage from 60,000 sq.km to 110,000 sq.km — an impressive 85% expansion. Notably, more than 47,000 sq.km of this new area lies in deep and ultra-deep offshore waters, showcasing the company’s willingness to explore complex and high-potential frontier basins.

Forays into New Frontiers: Cambay Basin and Meghalaya

Oil India has, for the first time, entered the Cambay Basin and the northeastern state of Meghalaya, opening doors to previously untapped geological provinces. This diversification strengthens its long-term strategic roadmap and aligns with India’s energy security goals.

A Navratna PSU and Asia’s oldest oil exploration and production company, Oil India’s bold bid and 100% strike rate reflect its robust technical capabilities, financial strength, and growing ambitions in upstream energy development.