Oil India Limited has informed the Exchange regarding a press release dated July 09, 2025, titled "OIL and GAIL signs 15-year Gas Sale and Purchase Agreement for supply of up to 900,000 SCMD of natural gas from OIL s Rajasthan fields".
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Oil India Limited (OIL) and GAIL (India) Limited have signed a 15-year Gas Sale and Purchase Agreement (GSPA), starting July 1, 2025, to supply up to 900,000 Standard Cubic Meters per Day (SCMD) of natural gas from OIL's Rajasthan Gas Fields. This extends an existing GSPA between the two Maharatna CPSEs for another 15 years. The gas will be supplied to state-run power producer Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) for power generation. Both companies are public sector enterprises under the Ministry of Petroleum & Natural Gas, and the deal reinforces domestic gas production, transportation, and distribution.
This long-term agreement provides revenue visibility and cash flow stability for OIL over 15 years, supporting monetization of its Rajasthan gas reserves. For shareholders, it reduces offtake risk and signals sustained demand from the domestic power sector, which is broadly positive for OIL's upstream earnings outlook.