Oil India to commence drilling in Andaman offshores as part of exploration efforts

Oil India Limited plans to initiate drilling activities in Andaman and Nicobar offshore waters as part of its exploration efforts. CMD Ranjit Rath stressed the need for stable oil prices for effective planning. The company recorded its highest-ever drilling and production figures in 2023-24. OIL aims to produce 4 million metric tons of crude oil and 5 billion cubic meters of natural gas while committing to achieve Net Zero by 2040 through expanding its renewable energy portfolio.