Oil India Limited has informed the Exchange regarding a press release dated April 27, 2026, titled "Hydrocarbon Discovery in Overseas Block in Libya (Area 95/96) ".
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Oil India Limited has announced a new hydrocarbon discovery in Libya's Area 95/96 block. The company holds 25% participating interest in an Indian consortium with IOCL. The block covers approximately 6,630 sq. km in the prospective Ghadames Basin. The sixth exploratory well A1-96/02 has resulted in a gas and oil discovery, formally declared by Libya's National Oil Corporation as the fifth discovery in the block. Four other discoveries were made during 2012-2014, and further appraisal activities are planned to assess the resource potential.
This discovery reinforces Oil India's international exploration portfolio and strategic expansion, though the actual commercial impact on revenue will depend on successful appraisal and development activities in the coming years.