OIL and GAIL signs 15-year Gas Sale and Purchase Agreement

Duliajan: Oil India Limited (OIL), one of India’s leading Maharatna upstream oil and gas company and GAIL (India) Limited, another Maharatna giant, both under the aegis of Ministry of Petroleum & Natural Gas have signed the agreement for extending the existing Gas Sale and Purchase Agreement for another 15-years, starting from July 1, to supply up to 900,000 Standard Cubic Meters per Day (SCMD) of natural gas from OIL’s Rajasthan Gas Field.

The agreement was executed by Ranjan Goswami, ED (BD), OIL and Sumit Kishore, ED (Gas Marketing), GAIL at GAIL’s Corporate Office, New Delhi.

This agreement highlights the dedication of both Maharatna CPSEs in production, transportation and distribution of gas available from domestic gas fields demonstrating their collaborative approach to enhancing energy security and accessibility. The sourced gas will be supplied to State run power plant M/s Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) for production of power.

Through a press statement, OIL stated they remained committed to strengthening its upstream portfolio through continued exploration and development across the country and GAIL plays a pivotal role in monetization of gas.