New Delhi, May 23: Maharatna public sector company Oil India Limited (OIL) has unlocked a new gas-bearing pay zone in Rajasthan’s Dandewala field, marking a fresh development in India’s domestic energy exploration efforts.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced the development on Saturday, describing it as an important step toward strengthening India’s energy security and reducing import dependence.
In a post on social media platform X, the minister said natural gas has begun flowing for the first time from the shallower Sanu Formation in the Dandewala field at a production rate of nearly 25,000 standard cubic metres per day.
“India’s quest to strengthen domestic production of energy scripts a new chapter in Rajasthan,” Puri said.
He added that the breakthrough would provide fresh momentum to India’s energy self-sufficiency goals and strengthen the country’s domestic hydrocarbon production capacity.
The minister also commended Oil India for its technological capabilities and sustained exploration efforts in unlocking the new gas-bearing zone.
The development comes as India continues to prioritise domestic exploration and production to enhance long-term energy resilience and reduce reliance on imported oil and gas.
Separately, Oil India reported a strong financial performance for the fourth quarter of FY26.
The company posted a 76 per cent sequential rise in net profit during the quarter, while revenue increased 10 per cent to Rs 10,013 crore compared with the preceding quarter.
Operational performance also improved, with EBITDA rising 31 per cent to Rs 3,281 crore from Rs 2,510 crore in the previous quarter.
EBITDA margin expanded to 32.8 per cent in the reporting quarter from 27.5 per cent earlier, reflecting improved operating efficiency.
Despite the strong operational and financial performance, Oil India shares ended marginally lower at Rs 500.45 on the NSE on Friday.
However, the PSU stock has delivered robust long-term shareholder returns, gaining around 20 per cent over both the past six months and one year, while surging more than 450 per cent over the last five years.
