Oilmax and Eleven each secure 50% of Kutch offshore block in latest DSF auction
Oilmax Energy and Eleven have each been awarded a 50% stake in the Kutch offshore oil and gas block under the newest Discovered Small Fields bidding round, supporting India's push for greater domestic energy production.
In the latest Discovered Small Fields bidding round, a consortium of Oilmax Energy and Eleven was granted the Kutch offshore oil and gas block, with each partner receiving a 50% participating interest. The allocation aligns with India's broader strategy to expand domestic hydrocarbon production and lessen dependence on imports that cover roughly 90% of crude oil and half of natural-gas demand. Kapil Garg, founder and managing director of Oilmax Energy, described the project as essential for delivering reliable, affordable energy as the economy expands.
Sunil Sachdeva, chairman of Eleven, pointed out that recent global market disruptions have made domestic production a strategic priority for the nation. The collaboration merges Oilmax's established upstream capabilities with Eleven's wide-ranging interests in healthcare, finance, consumer technology, and investments, representing Eleven's first foray into India's upstream sector. Both companies intend to apply their technical expertise to develop the asset and contribute to long-term energy independence.
Why it matters
The deal helps India lower its reliance on imported oil and gas, strengthening national energy security.
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