Oil India Limited (OIL), a Maharatna CPSE and a leading energy company in India, has signed a Memorandum of Understanding (MoU) with Petrobras, Brazil’s state-controlled oil major, to collaborate in the exploration and production of hydrocarbon resources in India’s offshore regions.

The MoU was signed during India Energy Week (IEW) 2025 in New Delhi by Dr. Ranjit Rath, Chairman & Managing Director, Oil India Limited, and Magda Chambriard, CEO, Petrobras.

This strategic partnership marks a significant milestone in fostering bilateral energy cooperation between India and Brazil.

Under this collaboration, OIL and Petrobras will jointly explore opportunities in India’s deep and ultra-deep offshore regions, including the Mahanadi, Andaman, and other sedimentary basins.

The partnership aligns with the Government of India’s policy initiatives aimed at accelerating hydrocarbon exploration under the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP).