Oil India shares are in focus as the company secured nine new blocks for exploration

Shares of Oil India Ltd will be in focus after the company announced securing of 9 blocks in OALP round XI. The shares closed 2.2% higher at ₹367 apiece on the NSE on Tuesday.

Oil India Limited (OIL), a Maharatna CPSE of MoPNG, and a leading energy company in India, in a landmark stride, secured 9 blocks under OALP Round IX, adding over 51,000 Sq.km to its exploration portfolio — with 6 blocks as sole operator and 3 as consortium partners. This milestone propels OIL’s total exploration acreage from 60,000 sq km to 110,000 sq km, registering a remarkable 85% growth.

Significantly, OIL had submitted bids for 9 blocks and won all 9, achieving a 100% strike rate, underscoring the company’s strategic focus, technical strength, and competitive edge.

This bold expansion is a clear reflection of OIL’s strategic vision and strong alignment with India’s energy priorities. Notably, over 47,000 Sq.km of the newly awarded acreage lies in deep and ultra deep offshore waters, marking a breakthrough as OIL takes on technically complex and high-potential Frontiers.

OIL has also made its debut in the Cambay Basin and the state of Meghalaya, unlocking fresh opportunities in untapped geological provinces.