Oil India Limited (OIL) and Bharat PetroResources Limited (BPRL) signed a Memorandum of Understanding (MoU) on January 29, 2026, on the sidelines of India Energy Week 2026 in Goa, to strengthen cooperation in upstream oil and gas exploration and development.
The MoU establishes a structured framework for collaboration across upcoming and ongoing licensing opportunities, including OALP-X, DSF-IV, and future bid rounds announced by the Government of India. The partnership aims to leverage the complementary technical, operational, and commercial strengths of both organisations to enhance exploration efficiency and optimise resource development.
The agreement was signed by D. S. Manal, Executive Director (Exploration & Development), Oil India Limited, and Kiran Muniswamy, Vice President (Business Development), Bharat PetroResources Limited, in the presence of Ranjit Rath, Chairman and Managing Director, OIL, and Vikas, Managing Director, BPRL. Senior officials from both organisations were also present at the signing ceremony.
The MoU reflects a shared commitment to risk-sharing, capability building, and coordinated participation in India’s upstream sector. The collaboration is expected to contribute to strengthening domestic hydrocarbon exploration, enhancing energy security, and supporting India’s long-term energy self-reliance objectives.
