Oil India Limited (OIL) and Bharat PetroResources Limited (BPRL) signed a Memorandum of Understanding (MoU) at India Energy Week 2026 in Goa, marking a significant step towards strengthening collaboration in India’s upstream oil and gas sector.
MoU establishes a formal framework for cooperation between the two public sector enterprises to jointly explore and pursue exploration and development opportunities under the Open Acreage Licensing Policy (OALP) Round X, Discovered Small Fields (DSF) Round IV, and future hydrocarbon licensing rounds. The agreement aims to leverage the complementary technical, operational, and project management capabilities of both organisations to enhance efficiency and competitiveness in India’s exploration and production landscape.
Collaboration is expected to support systematic evaluation of prospective blocks, coordinated bidding strategies, and joint participation in awarded assets. By aligning expertise and resources, the partnership seeks to accelerate hydrocarbon development while optimising risk-sharing and capital deployment.
MoU reflects the continued focus of both organisations on supporting national priorities related to energy security, domestic production enhancement, and efficient resource utilisation. It also aligns with the government’s broader objective of maximising exploration potential through policy reforms and collaborative industry participation.
Agreement was signed in the presence of senior leadership and officials from both organisations, underscoring the strategic importance of the partnership. Through this MoU, OIL and BPRL reaffirm their commitment to strengthening India’s upstream ecosystem and contributing to a resilient and self-reliant energy future.
