Oil India Limited, a Maharatna oil and gas explorer, issued a press release on 5 June 2026 titled “Oil India Reports Presence of Natural Gas in Andaman Shallow Offshore Block.”
The disclosure points to an exploration result in the Andaman offshore area, a frontier region that has drawn industry interest as India looks to expand domestic hydrocarbon output. The filing records the presence of natural gas; commercial quantities and development timelines depend on further appraisal.
Oil India has a market value of about Rs 77,500 crore and trades at roughly 10 times earnings. Its shares eased about 1.2% on the day to around Rs 483, and are up about 15% over the past year.
The information is taken from Oil India’s filing with NSE and BSE dated 5 June 2026. This note is for information only and is not investment advice.