In a significant move to accelerate India’s domestic energy exploration, Oil India Limited (OIL) and global energy giant TotalEnergies have signed a pivotal “Technology Service Agreement” to jointly pursue oil and gas in the country’s challenging deepwater frontiers.
The agreement, inked in New Delhi on Wednesday in the presence of senior officials from the Ministry of Petroleum & Natural Gas, establishes a framework for TotalEnergies to provide its advanced technical expertise to OIL’s offshore portfolio. This collaboration will focus on deep and ultra-deepwater blocks in the Mahanadi and Krishna-Godavari basins, the appraisal of a gas discovery in the Andaman Basin, and the government-mandated stratigraphic drilling program.
Pankaj Jain, Secretary of the Ministry of Petroleum & Natural Gas presided over the ceremony which was also attended by Additional Secretary Praveen Mal Khanooja and Dr Ranjit Rath, Chairman & Managing Director of OIL. The agreement was signed by Dr Sangkaran Ratnam, CMD of TotalEnergies Gas & Power Projects India Private Ltd., and Saloma Yomdo, Director (Exploration & Development) of OIL, in the presence of senior officials from both companies.
“This strategic collaboration marks a significant milestone in OIL’s commitment to pursue exploration in offshore frontiers. It is a decisive step towards possible hydrocarbon discovery and securing a sustainable energy future for India,” a senior OIL official said.
The alliance is designed to leverage TotalEnergies’ world-class deepwater capabilities, which are crucial for operating in India’s complex and under-explored offshore sedimentary basins. By combining OIL’s regional presence with TotalEnergies’ cutting-edge technology, the partnership aims to de-risk exploration and unlock the substantial potential believed to lie in India’s deep waters, ultimately aiming to boost the nation’s energy security.
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