Three important Memorandums of Understanding were signed between Maharatna CPSE and Oil India Ltd during India Energy Week 2026 in Goa. The first contract with ONGC Ltd has been inked.
Shri Arunangshu Sarkar, Director (S&CA), ONGC; Shri O. P. Sinha, Director (E), ONGC; and Shri Saloma Yomdo, Director (E&D), OIL, were present when the Memorandum of Understanding was signed. Senior ONGC and OIL executives also attended the signing ceremony.
The agreement applies to a formal framework for potential technical collaboration and appraisal of partnership in oil & gas exploration opportunities under OALP-X and future bid rounds in Indian Sedimentary Basins.
Additionally, during India Energy Week (IEW) 2026, Oil India and Hindustan Petroleum Corporation Limited signed a Memorandum of Understanding (MoU) to work together on the development of a Compressed Bio-Gas (CBG) project. A foundation for collaborative efforts to advance greener and more sustainable energy solutions is provided by the Memorandum of Understanding.
The MoU underscores the commitment of both public sector undertakings to clean energy and waste-to-energy programmes. It aligns with India’s energy transition objectives by fostering a circular economy, lowering carbon emissions, and boosting the local bioenergy environment.
Further, a third MoU has been inked with Bharat PetroResources Limited on 29th January 2026 at India Energy Week 2026 at Goa. The Memorandum of Understanding was signed by Shri D. S. Manal, Executive Director (E&D), OIL, and Shri Kiran Muniswamy, Vice President (BD), BPRL, in the presence of Dr Ranjit Rath, Chairman & Managing Director, OIL, and Shri Vikas, Managing Director, BPRL.
Additionally, it establishes a legal framework for cooperation on the potential for oil and gas exploration and development under OALP-X, DSF-IV, and upcoming licensing rounds.
