Hindustan Oil Exploration Increases Mumbai Offshore Area Over 800 Sq. Km, Supported by New 332.4 Sq. Km Block

Mumbai, April 15, 2025 – Hindustan Oil Exploration Company Ltd (HOEC) has further consolidated its exploration presence in the Mumbai Offshore basin as its overall acreage now stands at over 800 square kilometers. This is after the recent acquisition by the company of Block MB/OSDSF/BI 5/2024, which on its own adds 332.4 sq. km to HOEC's Mumbai Offshore holdings.

Key Highlights:
Total Offshore Acreage Exceeds 800 Sq. Km
With the recent acquisitions, HOEC's holdings in Mumbai Offshore basin now stand at one of the largest exploration footprint for an Indian private sector oil & gas company, unlocking new opportunities for hydrocarbon discovery.

Information about MB/OSDSF/BI 5/2024 Block:
The recently purchased block measures 332.4 sq. km and is placed in a strategic location in Mumbai Offshore, which is known to have abundant oil and gas deposits. HOEC's exploration and production capabilities are likely to see a major contribution from this block.

Strategic Significance:
The growth is in line with HOEC's strategy of promoting energy security and self-sufficiency through the development of domestic resources. The company has been proactive in government bidding and is utilizing state-of-the-art technology to improve recovery from new and existing fields.

Market and Sector Context:
India's initiative for greater domestic oil and gas production comes against the backdrop of volatile global energy markets, with local exploration and lower import dependence a priority for the government.

Leadership Insights:
A HOEC spokesperson said,
"Our increased Mumbai Offshore acreage reinforces our long-term devotion to India's energy requirements. The inclusion of this important block will speed up our exploration program and support future value creation for stakeholders."

Outlook:
HOEC will accelerate seismic studies and drilling activities in its newly reunited acreage to exploit untapped reserves and increase its contribution to India's energy sector.

Source: Company news release and SEC filings, April 15, 2025.