OIL and ONGC Sign Joint Operating Agreement for Three OALP-IX Blocks

13 Aug 2025 CW Team

Oil India (OIL) and Oil & Natural Gas Corporation (ONGC) have signed a Joint Operating Agreement (JOA) for three exploration blocks awarded under the OALP Bid Round IX, covering a total area of about 10,965 sq. km.

The blocks include:

MN-UDWHP-2023/1 (Mahanadi Basin): Located in the ultra-deep waters of the Bay of Bengal with bathymetry beyond the 2,500-metre isobath.
AS-ONHP-2022/2 (Assam Shelf Basin): Situated southwest of Meghalaya in one of the most challenging exploration terrains, offering new hydrocarbon prospects.
CB-ONHP-2022/2: Onshore block in the Cambay Basin.

The signing ceremony took place on August 12, 2025, at Deendayal Upadhyay Urja Bhavan, New Delhi. The agreement was signed by Anup Kumar, Executive Director (E&D), OIL, and Dinesh Singh, Chief (Exploration JV & BD), ONGC, in the presence of senior officials from both companies.

This collaboration marks a significant step in strengthening the synergy between the two national oil companies to advance hydrocarbon exploration, enhance energy security, and support sustainable growth in India’s energy sector.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..