Please find attached a media release by the Company.
RELIANCE · price
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Reliance Industries has signed a Joint Operating Agreement with ONGC and BP Exploration (Alpha) Limited for the exploration Block GS-OSHP-2022/2. The block is located off the western coast in the Saurashtra basin and was awarded to the three companies under India's Hydrocarbon Exploration and Licensing Policy. The parties will now jointly pursue exploration activities in this block, though no specific commercial timelines, investment amounts, or production estimates have been disclosed. In a broader context, RIL reported consolidated revenue of INR 10,71,174 crore (US$ 125.3 billion) and net profit of INR 81,309 crore (US$ 9.5 billion) for the year ended March 31, 2025.
This is an early-stage exploration tie-up with no immediate revenue or earnings impact. It signals Reliance's continued participation in upstream oil and gas alongside its much larger diversification into retail, digital, and renewables, and is unlikely to move the stock on its own.