Oil India has confirmed the presence of natural gas in its 3rd exploratory well, Vijayapuram-3, located in the Andaman shallow offshore block. The discovery, established through continuous flaring during initial production testing at a depth of 1900 plus meters, marks the second instance of hydrocarbon presence in the block out of three wells drilled so far. This development reinforces the exploration potential of the region under the Open Acreage Licensing Policy (OALP).

Discovery Details at Vijayapuram-3

The Vijayapuram-3 well was drilled 15 km off the east coast of the Andaman Islands at a water depth of 355 meters in the Offshore Andaman Block AN-OSHP-2018/1. Initial testing in the Eocene formation established the presence of natural gas, with immediate pressure build-up observed post-perforation. Further gas sampling is currently underway to assess the composition and calorific value of the gas, alongside isotope studies to understand its genesis.

The following table summarizes the key details of the discovery:

Appraisal and Seismic Activity

Following the initial occurrence of natural gas in the 2nd exploratory well, Vijayapuram-2, reported on September 26, 2025, Oil India initiated an appraisal program to evaluate the extent and commercial viability of the resources. The company has completed the reprocessing of available 2D seismic data and the acquisition of an additional 600 Sq.Km of 3D seismic data. Processing of this acquired and vintage 3D seismic data is currently ongoing. Once processing and interpretation are complete, the company plans to undertake the drilling of appraisal wells to further define the accumulation.

Oil India Limited disclosed that the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) levied a fine of ₹5,49,880 each for the quarter ended March 2026. The penalties were imposed due to non-compliance with specific regulations of the SEBI (LODR) Regulations, 2015. The company stated there is no material impact on its financials, operations, or other activities as a result of these fines.

The exchanges communicated the order via email on May 27, 2026. The action was taken under Regulation 17(1), 18(1), and 19(1)/19(2) of the SEBI (LODR) Regulations, 2015. These violations pertain to the non-appointment of the requisite number of Independent Directors, including one Woman Independent Director, and the composition of the Audit Committee and Nomination & Remuneration Committee.

Oil India Limited clarified that being a Government Company, the Directors on its Board are appointed by the President of India through the Ministry of Petroleum & Natural Gas (MoP&NG). The company asserted that it has been regularly requesting the ministry for the appointment of the requisite number of Independent Directors to comply with the regulations.

The company reiterated that the non-compliance regarding the composition of the Board, as well as the Audit and Nomination & Remuneration Committees, is beyond its control. It attributed this to the fact that director appointments are managed by the Government of India. The filing was signed by A.K. Sahoo, Company Secretary & Compliance Officer.