Oil India Limited (NSE: OIL) Q3 2026 Earnings Call dated Feb. 11, 2026
Corporate Participants:
Varatharajan Sivasankaran — Moderator
Abhijit Majumder — Director Of Finance
Ranjit Rath — Chairman and Managing Director
Ashok Das — Director, Human Resources, and Additional Charge of Director, Finance
Harish Madhav — Director Finance
Analysts:
Probal Sen — Analyst
Vivekanand S. — Analyst
Sarthak Tita — Analyst
Bineet Banka — Analyst
Nitin Tiwari — Analyst
Vikash Jain — Analyst
Gaurav Jain — Analyst
Sabri Hazarika — Analyst
Somaiah V — Analyst
Moksh Ranka — Analyst
Keshav Soni — Analyst
Presentation:
operator
Good morning ladies and gentlemen and welcome to the All India Limited Q3FY26 earnings conference call hosted by Antique Stock Broking Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on it at stone four. Please note that this conference is being recorded. I now hand the conference over to Mr. Vartarajan from Antique Stock Broking Ltd. Thank you. And over to you sir.
Varatharajan Sivasankaran — Moderator
Thank you. Supinali. Good morning everyone. I’d like to extend a very warm welcome to all the participants and the management of Oil India Limited. To this call we have with us Dr. Ranjit Rad, Chairman Managing Director. Mr. Abhijit Majumdar, Director Finance. Mr. Saloma Amdo, Director, Exploration and Development. Mr. Tailukya Bolgo, Director Operations. Mr. Bhaskar Jyoti Fukan, MD. Mr. Ajay Kumar Sahu, ED Company Secretary. Mr. Abhijit Das, CGM and Mr. Raghunath Mishra, CGM Business Development. Once again I would like to welcome a special welcome to Dr. Ranil Chad. For the first time I think he is on the call. I will hand over the call to him for his initial remarks. The floor is here, sir.
Abhijit Majumder — Director Of Finance
Yes. Good morning ladies and gentlemen. Gentlemen. At the onset I would like to thank Antique Stockbroking for hosting today’s analyst and investor call for Oil India Limited. I am Abhijit Majumdar, Director Finance. I am joined today by Dr. Ranjit Rath, Chairman and Managing Director, Oil India Ltd. And my colleagues from Oil India Ltd. Mr. Saloma Yamdo who is traveling today. So in his place Mr. D.S. manral will be representing the Exploration and Development Department. Mr. Who will be joining soon, Mr. Vaskar Jyoti Phukan. In the NRL. Mr. Ajay Kumar Sahu, Executive Director, Company Secretary, Oil India Ltd.
Mr. Abhijit Das, CGM F&A Oil. Mr. Raghunath Mishra, CGM Business Development Oil. On behalf of the management, I welcome you to our quarter three FY 2526 earnings call covering the period 1st of October 25th to 31st of December 25th. The financial results were approved by the board and duly published on 10 February 2026. Based on statutory requirements. Prior to diving deeper into the current quarter performance, I would firstly like to call upon our CMD Sir, Dr. Ranjit Rath to share his perspective on OINT’s current strategy.
Ranjit Rath — Chairman and Managing Director
Sir, Good morning everyone and I thank you all of you. Thank all of you for joining us on this call. Please bear with me because of my sore throat I will try to adjust and we’ll be able to join the discussion. Let me begin by welcoming our shareholders and the analyst fraternity and by thanking you for your confidence that you have reposed on Oil India Limited. Your continued engagement and the perspective that you share helps us stay anchored and execution, accountability and long term value creation. As you all know, recent Macro environment has once again underscored that how dynamic the energy landscape can be saved by geopolitics, supply, discipline and the transition.
Yet one really remains unchanged and India’s energy demand will continue to grow while ensuring reliable, affordable and progressively cleaner energy remaining a national priority for Oil India. This creates both responsibility and opportunity. Responsibility to strengthen India’s energy security and opportunity to deliver durable value across the entire value chain. As you all know, Oil India continues to traverse its path as an integrated energy company with operations spanning upstream exploration and production, midstream transportation, refining and downstream value capture and a growing footprint across renewable energy initiatives. Upstream remains our focus and foundation. First, to build a stronger prospect and secure pipeline through our targeted exploration, seismic and subsurface analysis.
Second, accelerating development and near field opportunities to shorten the cycle time from discovery to production, that is early monetization. Third, improving recovery in mature assets through reservoir management interventions and efficiency program alongside the upstream growth. Our midstream readiness is critical. Let me share some few milestones on this also the Nu Maligad Siligudi product pipeline expansion from 1.72 million metric ton per annum to 5.5 million metric ton per annum has already achieved mechanical completion and we are in the process of completing the commissioning process. The Dulia Jaan Namaligarh pipeline expansion from 1 million to 2.5 million has already achieved mechanical completion on 15th November and we expect to commission the expanded pipeline by April 2026.
In parallel, we expect to complete the common Carrier licensing process with PNGRB by April 2026 to initiate the hook up of the DNPL and IGGL line. On the downstream front, our priority is steady execution and value capture through reliability, efficiency and disciplined project delivery at Numaligarh refinery level. All of you know that the 3 million metric ton per annum to 9 million metric ton per annum is progressing well with the commissioning commenced for CDU video the MOTHER units along with select utility packages towards the end of December 2025. Stabilization for these units is expected by end of Q4 of FY 2026.
Concurrently, the Paradep Namaligarh Crude Oil pipeline which will supply imported crude to NRL has also achieved about 90% physical progress and will be ready for commissioning by Q1 of FY 2027. The last few months continue to remind us that crude prices and realizations can fluctuate meaningfully in short time spans driven as much by global events and sentiments as also by the fundamentals. Over the first nine months of FY25 26 our performance reflects this approach steady operational execution, continued progress on drilling and development activity and financial discipline. On the financial front of nine months our consolidated revenue stood at 27036.78 crore, EBITDA at 9298.62 crore and a PAT of INR 5126.21 crore.
On the operational side, our combined oil and gas production for nine months stands at 4.991 mm toe. This performance keeps us aligned with our annual operating priorities and trajectories we have laid out towards our production objectives. Our emphasis is straightforward, strong technical execution, rigorous project discipline and prudent capital allocation. Thank you once again for your continued support. I’ll now hand over to our Chief Investment Officer Investor Relation Officer Mr. Abhijit Das will provide an overview of the third quarter performances.
Ashok Das — Director, Human Resources, and Additional Charge of Director, Finance
Thank you sir. Good morning ladies and gentlemen. I take this opportunity to share our company Oil India Ltd. The operation and the financial highlights and the performance of our material subsidiary and ours. The key operational performance of our company for the quarter and the period ended on 31st of December 25th is the combined oil and gas production for Q3. It is 1.659 million metric ton and for the nine months ended it is 4.991 MMT. The crude oil production for the quarter is 0.8 which is increased by 1.18% on quarter to quarter. The crude oil daily production has ramped up to 9861 metric ton on 31st of December 2025 which is the highest in the last decade.
The natural gas production for the quarter is 0.801 BCM which is almost at par with the previous quarter. The gas cells have experienced minimum degrowth driven by reduced offtake from major customers such as Namru Power Plant BvsCL which has resulted in the temporary shutdown of their units. These shutdowns have now been lifted and the gas productions and sales are well beyond recovery. During the quarter 2526 on the exploration and Development Fund, progress has remained strong. Our company has drilled 19 new wells during the quarter. Cumulatively for the nine month period 51 wells have been drilled which we have achieved 65% of our annual target.
The key financial highlights for this quarter as with the period of the nine month ended 31st of December 2025 are the average price realization for Q3 FY26 was 62.$84 per barrel 73.$8 per barrel in Q3 of FY25 for the nine month ended 31st of Dec 2025 the average crude oil price realization was 65.$73 per barrel Service 79.$35 per barrel in the previous nine months 17.16% decline in the crude oil price realization is the major driver in decline of our operating revenues during the period of the quarter as well as the nine month, the natural gas price stood as $6.65 per MMBTU in Q3 of FY26.
Visa is 6.56 in Q3 of FY25. The standalone operating revenue for Q3 FY26 is 4,916 crore and for the ninth month it is 15,385 crore. The EBITDA margin for the Q3 of FY26 is 33.96% as compared to 34.82% of Q2 of the current year. The profit after tax for Q3 is 808.31 crore. During the quarter our EPA stood at 16.39 per share for the nine month ended of FY26. I take this opportunity to share the performance of our material subsidiary Riemoleager Refinery. The operating revenue is 6526 crores for Q3FY26 which is at par of the previous year.
Further, during the nine months the operating income is 19,249 crore which is 5.67% higher as compared to the previous year. The capacity utilization of Our refinery is 100.31% in quarter three of FY26 and the distillate yield for the quarter was 86.8%. The gross refinery margin excluding excise duty is 16.$27 per barrel which is up by 54% with service Q2 of the current year. The EBITDA is 1302 crore for Q3 of FY26. We service 677 crore in Q3 of FY20 strikes. The PAT is 867 crore for Q3 of FY26. We service 385 crore of Q3 FY25.
I’d like to present the consolidated financial results of our company. Our company has reported the consolidated operating revenue of 9111 and registered a PAT of 1436 crore during QY Q3 of 26. Both the consolidated operating revenue and PAT are in line with Q3 of FY26. We are pleased to inform you that the company has declared a dividend of rupees seven per fully paid equity sales during our period closing of 31st of December. Our company has delivered a resilient and disciplined performance in the third quarter of FY26 supported by our operational stability and financial execution. As we look ahead, our focus remains on execution excellence, production growth and long term value creation. Cross portfolio. With this I conclude my remarks. We will now like to welcome your questions and look forward for an engaging discussion. Thank you very much.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on the Touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two Participants, please use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. We have the first question from the line of Prabhul Sen from ICICI Security. Please go ahead.
Probal Sen
Thank you for the opportunity. Sir. I hope I am audible.
Abhijit Majumder
Yes, you are audible.
Probal Sen
Sir, a couple of questions. Firstly on nrl, on the expansion front, as was mentioned that the MOTHER units, the CDU and the VDU should be are all have already commenced commissioning and should stabilize by Q4. So for FY27, therefore what kind of throughput should we be looking at for another?
Harish Madhav
I’m MD nrl. So during the last quarter actually we expect to have a serious run of the whole refinery complex. So we will not have any major throughput this year. But towards the Q4 we will try to run the refinery at least at 50% of the rated capacity of 9 million. So we can translate that. Maybe we will be able to process around 1 million more than our capacity. Current capacity of 3 million. Maybe we will end the year FY27 with a 4 million capacity.
Ranjit Rath
Just to. Yeah, just to add. And then we are answering this question. Just to add. These units are commissioned in a batch process. That’s number one. And all the units need to be Commissioned for stabilization also. However, we are also working on an intermittent process so that we could have the production portfolio with an enhanced capacity. That thought process has also kicked in. So we will try to achieve 4 million metric ton by the last quarter of FY 2027.
Probal Sen
Understood sir, understood. The second question was with respect to the volume growth. You did mention that the nine month oil and gas output of close to 5 million tons is in line with the medium term objectives. Now how where are we with respect to the targets for basically reaching 4 million tons of oil and 5 bcm of gas which I believe was the earlier target to reach by around FY27?
Ranjit Rath
Okay, I’ll answer this question in a manner which is. I’ll take a bit of time to explain also. Look, the production from mature field are done with a two prong strategy. Number one, you do work over operations and that contributes additional production while we arrest the decline of pressure or performance by 8 to 10%. All of you know that second strategy is we enhance our drilling effort and the new drilling, new development, well drilling gives us an additional component and that is how the production is maintained. You would be happy to note that till now as per the Q3 we have been able to maintain the production and Q4 we expect that we will have an uptick in the production having maintained it so far based on two aspects.
One, in comparison to last to last year and last year when we drilled 61 and 50, 57 or 59 wells. This year by this time we have already completed 62 wells. Of course this has got a mix of exploratory and development well. But we are going to close the year by a number which will be the highest ever in the history of Oil India Limited that will be 75 plus wells with additional possibly highest over or near highest over workover operations. So we are looking at surpassing the last year’s highest ever 6.71. Now how much I do not wish to speculate but having arrested the decline, we are definitely looking at touching those numbers.
In addition to this I would supplement as we speak, our current Delhi production is hovering over 10,000 metric ton per day. That calculates about 77,000 plus barrels. And this is also supplemented by another achievement which our Rajasthan field has actually started producing very well. And all of you know earlier we were doing about 100 to 200 to 400 barrels. Today we are doing thousand barrels per day from our Rajasthan field. And we have also recently completed one of the fastest well drilling in Rajasthan just 23 days. So these optimization efforts and Operational efficiency gives us the confidence that we are on a right path to cross the last year’s highest ever production outlook. I hope I have been able to substantiate my response.
Probal Sen
Thank you, sir. That was extremely useful and detailed answer. One small follow up if I may. Earlier I think it was mentioned that there are some pipeline connectivity timeline which will basically drive the gas production increase. Because monetization can only happen with connectivity. You didn’t mention about the pipeline connectivity for Nomadicar. If you can also give us some updates on where we are on the gas monetization pipelines and you know where we are in terms of those timelines.
Ranjit Rath
Okay, I’ll answer this. As far as the gas monetization effort is concerned, while we have identified gas wells which will enhance our commitment to enhance production of natural gas, there are two things which has happened. We are now looking at laying additional infill lines to enhance or to handle the bottlenecks. From a process point of view within the main producing area is 1 second. As all of you would know, the feeder line needs authorization of the government. That process is underway. Once we have those notifications, I would prefer to apprise you. But I can tell you this is an advanced stage and after the PNGRB approval is done, it takes 18 months time.
And we have already planned our drilling program in a manner that we will be able to evacuate. As far as the Dulia Jaan Nu Maligad dedicated pipeline is concerned, current capacity is 1 million khand. The plant capacity expansion is about 2.5 and the commissioning process is underway right now. We are hopeful that by 20, by April of 2026 that pipeline will also get commissioned. This will actually help us to supply more natural gas to Numaligarh refinery. And with the hookup of IGGL line from Baihata, that is north bank of Guwahati with Namaligad station at Jorhat. Should there be any further requirement, once the DNPL is declared as a common carrier, we can push more gas as well.
Probal Sen
Thank you sir. That is extremely useful. I’ll come back.
Ranjit Rath
Okay.
operator
Thank you. Ladies and gentlemen, in order to ensure that the management will be able to address all the questions from the participants, we request you to kindly limit your questions to two per participant. If you have a follow up question, please rejoin the queue. Again, we will take the next question from the lineup. Vivekanand S from Ambit Capital. Please go ahead.
Vivekanand S.
Hello. Thank you for the opportunity. My first question is on the increase in contract cost. Is this increase only due to the GST change or is there any other, any other factor here which has led to increase in contract cost to 892 crore from say last year 500 crore and last quarter 520 crore. That is question one. Secondly, thank you for the color Dr. Ranjit. On the exploration efforts as well as development wells, I wanted to understand from an exploration standpoint, Oil India has expanded its acreage very meaningfully as has the rest of the E and P industry.
In the last 23 years this has resulted in the company exploring many new areas like Andaman Basin. Is there any color you can provide on new discoveries that one can look forward to? Any timelines that you believe this project is yielding and how much more effort will it need for you to come up with any new discoveries which might be critical for your longer term targets beyond the mission? 4 thank you very much.
Ranjit Rath
First of all let me thank you for asking these questions because through your questions we get an opportunity to share our thoughts and insights of our ENP effort. And even if it is asked by one organization or entity, I’m sure the response is heard by others. So this is what you have reaffirmed through your response also. Now let me ask, let me take the question on increase in contract cost as part of our exploration effort while we do rank exploration that I will cover. In the second part we undertake near field exploration which is primarily the exploratory wells drilled in the mining reef area and which supports the development drilling.
So the near field exploration and development drilling which happens to enhance our production has got a contribution to the reserve replacement ratio which need to be maintained plus or minus one and more than one is always better as part of our efforts in this near field exploration and development link you would appreciate today we are having technology supported deeper horizon seismic imaging earlier while we were drilling about 4000 meter per well depth. Today our target ranges from 5500 plus meters and we are establishing presence of hydrocarbon and in monetization. So one part of the contract cost increase is the drilling of deeper wells.
Second, we have enhanced our drilling portfolio and our workover portfolio. When I say workover portfolio that means we deploy more workover rigs and drilling portfolio we deploy more drilling rigs. This adds to the contract cost. Third, while we need to work on all this we also need to supplement these release of locations by additional studies and extensive seismic data acquisition, processing and interpretation. So this also adds to additional cost. This is part of our production enhancement efforts. In addition to that. Now I will supplement my response to your second question today oil India has got an accurate of 1 lakh square kilometer out of which 50,000 square kilometer pertains to shallow water, deep water and ultra deep water.
And as you know, we are currently drilling the third exploratory well in Andaman Nicobar. And as we speak the depth range is about 3, 500 to 3,600 meter. We are going to go down to 4,200 meter. As far as our exploration in Kerala Konkan Basin is concerned, we intend to drill up to 6000 meter to trace presence of hydrocarbon in the Cretaceous formations. Now these additional efforts leads to the additional contract cost. I must share with you another interesting development. In the month of May 2025 we got the deep water blocks 40,000 square kilometer in four blocks Mahanadi and KG basin.
As part of our exploration effort we have already completed 4200 line kilometers of 2D seismic and 50% of 3D seismic. That is 5300 square kilometer. This also adds to contract cost. But most importantly, these data helps us to strategize our further exploration program. And this will also help us to strategize our efforts for securing more acreages in the OLP 10 bidding round which is now extended till 29th of May 2026. I hope I have been able to substantiate with my response. Should you require, please let me know.
Vivekanand S.
No sir, this is very helpful. Thank you so much for the rich insights. Just on the financial front, given the increased efforts on the exploration side, is this the new baseline in terms of contractual costs that one should assume for modeling?
Ranjit Rath
Okay, very good question and I would also love to answer. Look, it’s like this. As of today we are deploying semi submersible rigs and jack up rigs which are primarily shallow water depth but deeper horizons. But this also includes a substantial component from our onshore drilling effort. Simultaneously, we are enhancing our efforts for undertaking exploration and drilling in the newly acquired Cambay Basin blocks and in Meghalaya. Kambay Basin block is a category 1 basin, Meghalay is a category 2 basin. We are also looking at additional expenses, I would call it as investment for substantively more drilling in our Rajasthan blocked.
Now this gives a kind of broad outlook as far as onshore exploration and development drilling is concerned. Next year by now we should have excellent clarity in terms of our deep water drilling commitment. And the best part is while we would definitely be undertaking at least three to four deep water drilling commitments which will entail mobilization leaderships which will definitely be at a higher cost since we have not discovered the price. It will be premature for me to speculate any number. But to give you a comfort, we have a wheat Total Energy which is in the public domain to support our exploration effort.
As part of that, the entire design basis assumptions for seismic data acquisition and processing and interpretation will have the oversight of Total which is an international oil company with adequately and extensive exposure in deep and ultra deep water drilling and exploration. As part of the collaborative framework, there is a right of first refusal which is available to Total Energy. Should there be any prospect identified out of the seismic API that we are doing right now for a deep water block, Total Energy will also like to share the cost and share the risk. Therefore, we are currently not anticipating any specific issue as far as cash flow or additional contract cost is concerned.
Similarly, we are also reaching out to other international oil companies and nasal oil companies with exposure and expertise in deep water and ultra deep water to secure de risk mechanism. So that we not only look after the OLP nine blocks that we already have acquired, we will also follow a similar approach for our OLP10 bidding strategy. I hope I have been able to substantiate my response.
Vivekanand S.
Thank you Dr. Ranjit for the detailed color.
operator
Thank you.
Ranjit Rath
Thank you.
operator
Thank you. Sir, we will take the next question from the line of Sartak data from DSP Asset Management. Please go ahead.
Sarthak Tita
Hi. Morning sir. I hope I am audible.
Ranjit Rath
Yes, you are.
Sarthak Tita
Yes. Great. So just sir, I had a couple of questions on and I would like to hear your views on that. So first of all I like we had a understanding with PPCL on their new investments in the Andhra Pradesh refinery, right. So just wanted to get some viewpoint as to the reason behind us getting into that in as a strategic investment. And what will be the percentage or what will be the collaboration that we are working on. And secondly sir, our standalone operations of ENP just would like to know more about the production guidance for vending 27 and 28 for both crude and gas. If you could provide some color on that. Thank you.
Ranjit Rath
Okay, as far as the planned. Sorry. As far as our plan investment participation in the AP refinery which is being steered by bpcl. We foresee that this will be a high end refinery come petrochemical complex wherein we are looking at a 12 million metric ton and the refinery will have about 35% petrochemical intensity index. Now the DFR for the same is currently being worked out not only in terms of cost but also the crude slake so that we maximize the petrochemical component as well. Therefore the cost estimates are still work in progress. As far as our interest evinced interest to BPCL is concerned.
Currently it is in the range of 10% with a likely possibility should there be any interest we can enhance it. But as of today once we have clarity on the DFR and clarity on the overall cost, an appropriate decision will be taken. This is primary to have an extension or an oversight in terms of our strategic diversification. Our main stay will continue to remain E and P for that matter as far as stand alone ENP production is concerned. As I have already said our target for 4 million metric ton and 5 BCM are contingent upon two things.
One, the main producing area will provide us opportunities to drill more wells and do more workover. I would share with you that while this year we are going to achieve 75 wells, the next year target is 100. Well as part of our strategy for both exploration and development wells. Now that gives me an outline of the number that we are looking at. The number that we are looking at is this year we will achieve to surpass last year’s production 2425 production. Hereafter we are looking at a number though I don’t want to generally don’t speculate basis.
Our internal estimate of likely prospects that we would target and bring it to the surface will be hovering around. Total production will be hovering around 7.5 mm toe and going forward it will be 8 will be actually having one guidance the crude oil production 4 million metric ton would happen. However natural gas production though we have potential to produce from the current 8 million standard cubic meter of per day to 13 million standard cubic meter per day that will be actually contingent on the feeder line that we are all waiting for and the DNPL line will provide an opportunity to evacuate also. So going forward we are looking at something like 7.5mm toe and should there be the evacuation in place we would aspire to achieve 8.5mm toe FYE 2028.
Sarthak Tita
Great sir. This was very helpful. Thank you so much for your insight sir.
Ranjit Rath
Thank you.
operator
Thank you. We will take the next question from the line of Beneath Banka from Nomura Wealth. Please go ahead.
Bineet Banka
Hi sir, thanks for the opportunity. I have a couple of questions on the NRL refinery part. Firstly, how much of the refinery’s current crude intake is coming from the local sourcing and what is the cost difference if you procure the crude locally versus importing?
Harish Madhav
We are getting almost 100% crude from local fields of Eastern Assam but a very small quantity is also coming through Haldia through import route and we are transporting from Haldia to Namalagar by rake that constitutes around 50 kilo. Whereas all the 3000 kilo crude is coming from the Upper Assam oil field. And actually we are benchmarked to international prices and the prices which provide was indicated initially in the presentation is the price that we are actually giving to oil India. So it fluctuates with international price.
Bineet Banka
Logistic cost will be higher if you are importing and using pipeline to transport. So what could be that differential?
Harish Madhav
See pipeline transportation cost typically is 50 Pisa per ton per km. And you also have the luxury of importing crude which are cheaper than what we are getting today. Because our refinery we have configured in such a manner that cheap crude can also be processed. So Delta typically can range from $2 to $4 if you can actually appropriately source crude which you can process but are cheaper in the market. So that leverage will always be with you. And actually you will end up in the same sort of product because you have a very complex process in place as far as new refinery is concerned. So therefore whatever additional logistic cost that we will incur in terms of getting crude into our refinery will be compensated by the lower crude cost of procurement. So did I answer your question?
Bineet Banka
Yes sir. Yes sir. Yeah, just another question on the same NRL refinery. So what was the reason you had. Like very high defining like 16 in this quarter. This is much higher than what the other OMGs have reported.
Harish Madhav
They actually are not happy. You must be happy. At the same time I would like to explain. See we are mostly. The current refinery is mostly a diesel refinery and diesel refinery diesel margin was very very high. Actually it’s a times it went to as high as $24 you may have seen in the third quarter. So therefore our almost 65 to 70% product is diesel. So therefore we have a head start vis a vis our peers as far as refining margins are concerned only when the diesel margins are higher. So that is the simple answer that I could have given.
Ranjit Rath
But that is a modest answer. Let me supplement this. The refinery is running 100% plus capacity and the best yield in percentage term also. So these two things are also added to the performance physical performance of the refinery. So one is the crude oil price which is subdued to the spread that one gets in hsv. And most important is the performance of the refinery.
Bineet Banka
Okay sir, got it. This last one on the NRL only. So what is the total debt on NRL balance sheet and what will be the debt when the when all the capex is done? I think over the next one or two years, including the pet care plant.
Ranjit Rath
I think the 16,000 crores.
Harish Madhav
It is around 16,000 crore. And by the time we end all the projects including pet care same, it should be around 25 to 26,000 crores.
operator
Okay, thank you. Thank you so much.
operator
Thank you. We will take the next question from the line of Nathan Tiwari from Philip Capital India. Please go ahead.
Nitin Tiwari
Hi sir, good morning. Thanks for taking my question. Morning sir. Sister, staying on, the question of contractual cost explanation that you gave is a rather structural where like you know, your incremental exploration and development effort is leading to perhaps a higher cost. But I’m interested in knowing what specifically happened in this quarter. Because in this quarter your contractual costs were higher by about 70 to 71% on both YOY as well as Q on Q basis. And as the earlier participant also asked that is this the baseline that we should consider going ahead?
Ranjit Rath
Okay, I’ll give you a bit more elaboration this month. This month we have already drilled the equal number of drilling that we had done last year. And this is just 62. We are going to drill another 12 to 15 wells. So this is the additional cost which is coming on the way because these are all monthly payments. So this will accrue. That is how the higher a contract cost is concerned. Second, I will reiterate, we are now drilling deeper. So when you drill deeper it is not a linear complexity. The drilling rigs come with an operational day rate but the complexity increases, the geological complexity increases.
Therefore that also add to a prolonged drilling duration. Third, when we deal with mature fields, the workover duration also increases. So these are those contract cost which has actually come in, in the Q3. As far as specific response, if you are looking at, if you are looking at a benchmarking, I would suggest that’s what I have given an elaborate answer that this could continue to be the benchmark. With the onshore and the current offshore, shallow offshore drilling that we are doing, there will be a slight optic in terms of benchmarking year after when we will undertake the deep water drilling. But that would also be hedged with international collaboration. So from a safe assumption point of view, the current numbers could be benchmarked.
Nitin Tiwari
Sir, if I, if I understood this right, because you’re like, you know, working hours have increased. So have you deployed more rigs in this quarter which has perhaps added to your higher working hours and also high contractual cost.
Ranjit Rath
Okay, I’ll now let me take some credit here. This activity, please understand. Oil India was drilling only 30 to 35 wells, three to four two to three years ago, the same manpower. We are delivering more drilling because of two three things. One, our operational efficiency has gone up substantially. Two, we are drilling more wells and more deeper wells by standardizing an SOP where the drilling rigs and then the interlocution movement is seamlessly practiced.
Third, the waiting on period of the bundle services for testing is also planned in a very meticulous manner. Fourth, the plinth which is created for carrying these drilling activities, whether it is a 200 horsepower rig, 1400 horsepower rig or a 3000 horsepower rig, are standardized. Fifth, the movement between the workover rig coming in or the testing protocol that we need to do for early monetization has also been improved. So all these actually giving us an opportunity of cost optimization and operational efficiency.
Nitin Tiwari
Secondly, again, a clarificatory question on the production guidance that you gave. You mentioned 7.5 and 8.5 million tons equivalent in 27 and 28. So if we look at like, you know, the crude production in 26 is going to. Is going at a run rate of about 3.4 million tons annually. So if we can get to specifics in terms of what you are targeting for 27 and then 28 in terms of crude production gas. I understand you said it’s contingent on connectivity and other aspects. But if we are.
Ranjit Rath
If we are able to drill hundred and I can assure you we are going to drill hundred wells, we would aspire to touch 4 million next year.
Nitin Tiwari
But in 27.
Ranjit Rath
In 27. But on a conservative side, we are planning or we have indicated that we would do 3.8 in 2027 and 2028 will achieve 4 that also which arisen because when the drilling happens, the buildup towards production comes in the last quarter. So there could be a situation that we would sleep over beyond the FY 2027. Therefore the outlook that we have given to ourselves is in the order of 3.8 and 4.0.
But in case we are able to drill hundred plus or 100 wells and year after another hundred with the number of drilling rigs that we have planned. Number one. Number two, we will have more 3,000 horsepower rig in our fleet. Number three, we will have couple of new rigs joining the fleet. Therefore we are planning that 100 numbers to be drilled and to be able to produce.
Nitin Tiwari
Thank you so much for the elaborate answers are really helpful. I’ll get back in the queue. Thanks again.
Ranjit Rath
Thank you.
operator
Thank you. We will take the next question from the line of vikash Dain from CLSA. Please go ahead.
Vikash Jain
Dr. And team. Sorry. Thanks for taking my question, Sab. So the scenario that you’re painting is of course there is a lot of excitement in terms of activity which you most likely will possibly end up drilling three times the number of wells and you’ve been able to get some efficiency without much increase in manpower and some of these other costs. But in that scenario what I want to understand is that would obviously mean more costs, but these costs will be largely what seismic related costs which would show up in terms of other expenditure for this period. And obviously these are costs that might show up today but it will lead to higher production later. That’s the kind of thought process that how we should be thinking about. Right? Is that the right understanding?
Ranjit Rath
Excellent. I think you were bang on. I’m so glad that you have summarized your assessment so rightly.
Vikash Jain
Okay sir, so in that context could you just give me what has been the seismic cost for say 3Q and 2Q as well and the nine month that we have because that’s part of the other expenditure. Right.
Ranjit Rath
Okay, I’ll just dig out, because I’ll have to dig out exact number. What is the seismic cost? Where is that? Okay, the size of the cost number towards seismic data acquisition is about 580 crore. That I am given to understand. And 9 month is 1151 crore and 2Q words.
Abhijit Majumder
Excuse me, what? What is the other question? Excuse me. Yes, so the quarter three number is 579. Quarter two number is 321.
Vikash Jain
Okay, understood.
Abhijit Majumder
Parameters. The more you drill, the more deep you go, your cost would naturally go. It will increase obviously.
Vikash Jain
And sir, so in terms of this activity that we are talking about, there will of course be development wells which will be largely capitalized till production come in. But a lot of it will also be, you know, even exploratory wells. These would show up other than seismic, where would this be? Would this be broadly bunched up? You know these would also come up in terms of higher exploration write offs. In terms of driver write offs. Is that the reason why your your 9 month number is almost getting closer to 2000 crores?
Abhijit Majumder
Yes, I mean see exploration appears under the head exploration and evaluation cost. So there is a separate line item under which it would appear and once you it becomes a development asset then it would move from year to development which you will finally capitalize. Till such time it will remain there as E and E assay because this is an ongoing activity and till the time you really turn it into a producing asset it will remain there as E And.
Vikash Jain
So I think these will be the two elements or is there something else that I’m missing other than seismic.
Abhijit Majumder
Which is my seismic survey expenses, etc.
Vikash Jain
Yeah. So the seismic and survey expenses are the numbers that you gave us 1150 crores, right? That’s the one that you give us?
Abhijit Majumder
Yes, that’s correct.
Vikash Jain
Okay.
Ranjit Rath
Yeah. Gentlemen, I’m sorry I had to step out. See the, the. When we look at these numbers my suggestion to all of you would be the activities in the field are weather window driven. When we talk about seismic data acquisition during the monsoon, the work comes to a standstill. So you would appreciate when we look Q1, Q2 and Q3, the expenses incurred as part of our contract cost would never be equal or even equivalent.
Therefore, in fact when we discuss this and I must share with you these numbers within the ambit of our board, we take cognisation of the fact that considering the northeast region that we operate in, considering the necessity of a fair weather window in which we do the seismic API, these numbers would also reflect in the respective quarter. However, when we look at these numbers on an annualized basis that gives us a clear picture both in terms of our enhanced effort, enhanced deployment of resources and a number which is annualized. So Q1, Q2, Q3 comparison as far as these acting are concern are based not update.
Vikash Jain
Sure.
Ranjit Rath
I hope I have given a kind of a clarity on the concept.
Vikash Jain
Sure, absolutely. Obviously I mean so Q3 and Q4 might have more fair weather window. So that might have more activity over there. Obviously.
Ranjit Rath
Exactly.
Vikash Jain
So just to kind of for comparison sake like last FY25 from what I can see your total seismic cost was about 750 crores. And your total ENP driver write off was about 650 crores or so. So those.
Abhijit Majumder
One second one. Can I take down your number first? What you said. I’m glad that you are doing this granularity seismic. You are saying how much?
Vikash Jain
So this is from what you had reported I think 757.
Abhijit Majumder
No problem. I will take it from you. I accept it because that helps me to crystallize my thoughts. Please go ahead.
Vikash Jain
So 750 and 650 crores. Seven roughly. I’m rounding it off. 750 is no problem and 650 is tribal write off. So these. How should we think of FY26 and 27 in terms of where these will go up to like FY20 like 9 months has already become nearly 2000 crores for rival write off. This should continue in a similar 3Q kind of number run rate for 4Q as well. And seismic also a similar kind of like.
Abhijit Majumder
Can I get your name please?
Vikash Jain
Vikash, sir.
Abhijit Majumder
Vikash, because I’m so glad that you are asking these questions in so granularity because this gives me an opportunity to share my thoughts. In an EMP operation. While we undertake efforts for enhanced exploration, we also are to right of wealth as part of the IND as guideline. Okay, that’s one second when we look at exploration activities. I would share with you normally exploration activities are never linear. It is having some kind of an overlap. The process is first you do a bit of seismic, then you do drilling basis your drilling. You do post drill analysis, you do a tie in study, then you bring in a supplementary seismic, then you decide couple of more drilling to be done in between.
You do a back analysis of your data, run your dynamic modeling, then you bring in infill wells to enhance your product production and also enhance your recovery rate. With these kind of continuous process of optimizing your drilling cost basis, the exploration efforts and then the studies, it is extremely difficult to give you a number. What exactly will be my driver cost at the year end before doing the calculations? Number one. Number two, you would appreciate that the work in progress as part of development well and in case of exploratory wells where we anticipate that there is certain horizons which could possibly be tested are kept as work in progress.
One example, the first well that we have drilled in Andaman Nico. We have drilled up to 3,600 meters. And we have. We are carrying that well as a work in progress because we intend to do testing in certain horizons that we have established as part of our geophysical logging that we have carried out. Only after obtaining the test results, we will take a call to write off. But one thing for sure, as part of the IND S mechanism and in the governance criteria, the incidents are reported instant basis within the same quarter. You do not have the opportunity to defer should an incident happen in that quarter. So while it will be difficult for me to indicate a number of driver cost that we might report, you will have to bear with me with this clarity that I’m trying to offer.
Vikash Jain
Sure. No, I fully appreciate that. I mean finally, exploration there is an element of chance and predictability can be difficult. But you know, my motive of asking that question is to get a sense that activity levels would be similar to where they are today. For all of FY26 and FY27. That’s. That’s the right way I should be thinking about it.
Abhijit Majumder
Okay, I will give you an answer supplementary answer to this. I’m so glad that you are asking these questions because through you I have been able to share my insight. Insight. As an ENP company we would like to have enhanced activity. When I mean enhanced activity, that means our exploratory efforts both near field exploration and development, well drilling is resulting or giving us more as we call a sand horizon or target horizons. If we get more target horizons, it gives us more activity, gives us more perforation, gives us more workover and leading to more production. So we are happy with more activities. We are very unhappy when the whale goes without any activity.
Vikash Jain
Sure, sir, Just shifting gears a little bit. And one last thing before please. I know I’ve taken a lot of time, but hopefully we please do is on Namaligarh the did. I mean it was mentioned that we will hopefully get to 50% utilization of the CDU and VDU. But typically the bigger gains for refineries would come when the upgraded units operate. And that’s when distillate yields increase and that’s when refining margins increase. So how should we think about operating at higher at full fuller, you know, the right utilization levels for the overall refinery, number one. And when will the petrochemist expansion start kicking in? You could go by quarter, by quarter, say 1Q 2Q of next year. I mean when should we start seeing the right refining margins X of Petco petcam start kicking in with all upgrader units operating?
Ranjit Rath
Initially I told that we will be operating our refinery, the whole complex by end of next year, last quarter of next year. And we Hope to achieve 50% capacity utilization on daily basis during that quarter. Going forward next quarter. Obviously our effort will be to go up on that 50% utilization to say around 75 and gradually going up to 100%. So you you will see a gradual uptick in the capacity utilization utilization of the new complex that we have built up starting from Q4 of FY27 and continuously going up to say Q2 of next finance the financial year thereafter.
That is FY28. And during FY28 towards the last part, we should also be commissioning our PET Chem project. Petcamp is a single unit. So once it is commissioned, that means it is commissioned. And gradually the product will start trickling in. Maybe at the first quarter we will not be able to achieve 100% of capacity run. But gradually it will ramp up. In 2 to 3 quarters we will be able to go to 100% capacity utilization. So to summarize. In Q4 of FY27 we will be at 50% daily capacity utilization and going up to 100% by Q2 of FY28. And PET can will start by close of FY28 and achieving its full capacity by the Q2 of FY29. So that is the outlook that I would like to give you at this moment.
Vikash Jain
Very granular. Thanks so much sir, that those are all my questions. Thank you.
operator
Thank you. We’ll take our next question from the line of Gaurav Jain from ICICI Prudential Mutual Fund. Please go ahead.
Gaurav Jain
Thank you for the opportunity. Just one question from my side if. You can share sir. Region wise split of the 60 wells that we would have drilled till now how many of them are in say northeast, how many are in other geography etc. That that will be helpful.
Ranjit Rath
Okay. Give me one minute. I tell you, I’ll give you a construct. See, you all know that the main producing area for Oil India limited is in Arunachal Pradesh and in Assam. Okay. And by nine months of FY 2026 in Assam and Arunachal Pradesh we have already drilled 38 wells. And in Rajasthan we have drilled 10 wells. That is the next producing field. By end of this year we would drill 65 wells in Assam and Arunachal Pradesh. Rajasthan possibly would give us another two or three wells. But overall since we have got exploratory wells being drilled in Mahanadi. Exploratory well being drilled in Kerala. Konkan exploratory well being drilled in Andaman. The DSF block in Tripura and in Rajasthan would also have couple of drillings. So we are looking at a total of 75.
operator
Gauravarav, does that answer your question?
Gaurav Jain
Just a follow up on this, sir. What we understand is sir, we have evacuation challenge on the gas side because of connectivity issues. But then the crude growth is also lackluster than what we have been expecting. And then if we are drilling more wells and those or those wells are more of associated fields where both gas and crude would be there and then the evacuation of gas will be a challenge. So if you can help us understand that dynamics are that how comfortable are we to expect that crude will grow whereas gas will grow with a lag because of connectivity issue. And these wells that we are drilling has to be then crude only maybe so that we can take out the crude. If where are we wrong in understanding this, sir?
Ranjit Rath
Okay. I’m so glad you are asking this granular question. Let me. Let me give you a perspective. When we Drill we really look at hydrocarbon because the signatures tell us presence of hydrocarbon. After the tasting is done we establish the sand horizon and then we establish whether it is a crude oil with associated gas or dry gas. Okay, now the question is in earlier cases we were actually flaring those associated gas. Today by virtue of having additional compressors alongside those fields we are monetizing those earlier being flared gas gas and maintaining the crude production. So this has been our strategy and this will continue to be the strategy for us so that the crude oil production is not getting impediment because of the necessity of flaring.
That is one piece. The second is we have recently and all of you know have built a pipeline for from Kumchai in Arunachal Pradesh to Kusijan in Dulia Jaan that is nearby which is helping us to evacuate the natural gas which was getting flared from Arunachal field and that is also giving us a boost in the crude oil production. The third piece that we have done, the third piece that we have done is we have already established a possibility of gas storage in one of our field by converting a compressor as an injection pump.
So in case we are getting associated gas and there is a evacuation constraint, we are actually we have injected the gas back to the system which can be withdrawn once the pipeline connectivity is done. The fourth is recently in one of our westernmost field that is in Laquagao we have converted a crude oil line to a gas line and that way also we are kind of planning to evacuate natural gas or associated gas helping us to maintain the crude oil production. The best part of crude oil you have appreciated evacuation is easy. Therefore we are confident that we will be able to maintain the outlook that we have aspired to.
Gaurav Jain
Very helpful sir. Thank you so much.
operator
Thank you. Next question is from the line of Sabri Hazarika from MK Global Financial Service. Please go ahead.
Sabri Hazarika
Yeah, good morning sir. Two questions. Firstly, on this capex front what we’ve noticed is that I think nine months standalone capex is somewhere around 8,500 crore so which is in line with the full year guidance. So for this year would we be overshooting the guidance?
Abhijit Majumder
The more we do the activity the more the capex that you would appreciate. We had planned a certain amount of CapEx and we would actually surpass that number this year. That is actually to supplement our efforts for production. So the number that we have indicated for 2526 is 8800. But given the numbers that we have seen yesterday as part of our Q3 it would be increasing.
Sabri Hazarika
Okay. And next year also would be like similar higher than the 8,500 600 crore that you have given.
Ranjit Rath
It will be in that order because it would actually help us. But I would actually have a caveat here that since next year we’ll have more drilling rigs, we’ll drill more well the capex would definitely have an upswing so we will readjust our re once we have a line of sight after Q1 of 2027.
Sabri Hazarika
Okay, sure. And NRL, how much has been the financial progress? How much capex has been done this year?
Harish Madhav
Capex outgo so far has been around 6,000 crore and we will end the year with 8,000 crore and our capex total capex both the refinery and pet can put together is 45,000 crore. And there are smaller projects also included there.
Sabri Hazarika
Right sir. And okay and second question is on this Andaman field so we have done, we have drilled two wells and we have taken some write off also. So right now are we done with, I mean have we written off whatever is required in Unaman Fin or is there something pending and what is the next drilling plan? You said third well, so when is it expected to be done and how many more wells in the near term you have made plans about?
Ranjit Rath
I’m so glad. Okay, so Andaman, I’ll give you a perspective. Andaman are the OLP blocks. We have two blocks, 9,000, I think 10,000 square kilometer, one block on the east side, one block in the west side. We had initially planned to drill four wells in Andaman shallow water. The first well was drilled up to 3,600 meter. We are carrying that well as work in progress from a finance point of view because we intend to carry out some testing activity. The second well we drilled up to 2600 meters and we undertook a side track and then we tested the well in the side track that is called a well and the side track well established presence of hydrocarbon.
As far as IND IA is concerned even if you are doing side tracking the mother well have to be written off. And following that principle we have written up the component of the second well. The third well we are actually under drilling right now which is currently at around 3,300, 3,400 meters. We are going to drill the fourth well on the northwest side of Andaman block. But the story doesn’t get over here. Having established the presence of natural gas in the second well at a depth of 2,200 meter we have already initiated the upcoming process.
The uprisal process entails reprocessing of the 2D seismic data that has already been completed. Next, followed by 600 square kilometer of 3D seismic in that same area to establish the structure and then the extent of the structure. Third, that activity we have already initiated. The mobilization will commence after the 3D seismic of additional 600 square kilometer. We intend to drill an appraisal well. So that will be the fifth well in Andaman Nicobar. So that’s the Andaman story.
Sabri Hazarika
Thank you so much. And just last one small question. You mentioned that currently the crude oil production run rate is around 10,000 metrics tons per day. Is that right?
Ranjit Rath
Yes.
Sabri Hazarika
And what would be the equivalent gas production current in mmscmd?
Ranjit Rath
Give me, give me one minute. I’ll just take out my daily production report. I’ll tell you. As of today, okay. As of today we have done how much? 8.5 597 million standard cubic meter per day.
Nitin Tiwari
That’s natural gas and crude oil. As of today,
Nitin Tiwari
crude oil. As of today we have done 77,288 barrel. That works out to 10,029 metric ton.
Ranjit Rath
1029 metric tons. Thank you so much. Thanks a lot.
Ranjit Rath
Yeah, thank you.
operator
Thank you. Next question is from the line of Somaya V from Aventus Park. Please go ahead.
Somaiah V
Yeah, thanks for the opportunity. So first question is on the paradeep NRL pipeline. So how much kilometer is still left and what is our expectation by when this will be?
Ranjit Rath
I’m sorry, I could not get your question. What is that kilometer?
operator
Sorry to interrupt. So may can you use your handset mode please? Your audio is clear.
Somaiah V
I hope I’m audible now. So my question is on how much kilometer? How much kilometer still left in that paradeep NRL pipeline?
Ranjit Rath
Okay, very good. So PNCTL is about 16, not about 16, 35 kilometer. The ROU so far we have already opened is 1600 kilometer. The balance ROU that we intend to open which is spread across states is about 40 kilometer. And you would appreciate about. We are going to traverse five states. Odisha, West Bengal, Jharkhand, Bihar and Assam. So in all the states the small, small ROUS are left. Otherwise we are on track as far as our production or the ROU opened is about 98%. The lowering is about 92% that is completed.
Somaiah V
Okay sir. So we don’t see this as any impact. For instance, we want to ramp up the utilization of the refinery expanded refinery front. So by then we expect this to be fully completed. So we don’t see any risk of this getting delayed. So just want to have a Confirmation?
Ranjit Rath
No, we don’t see any bottleneck as of the pipeline is concerned. We have got excellent traction with the state government for these remaining ROUs and we do not foresee any constraint.
Somaiah V
Gotcha. Thank you. Second question sir is on the capex front only on NRL. So of the 45,000 crores that we mentioned for the projects so far, what are we spent and the remaining amount what is the profile spend profile next couple of years.
Ranjit Rath
See the project you would have heard already we are looking at completing the project and taking complete hundred percent capacity utilization by Q2 of FY28. But the mechanical completion would necessarily happen before Q4 of FY 2027. Okay. Now as far as the capex is concerned in terms of NRL so far we have done a date of about 16,000 crore. If my numbers are correct that has been already drawn. And as far as the overall CAPEX is concerned we are looking at 34,000 as far as NRAP is concerned. And how much is the equity? Let me another total is 45,000 as a bottom.
Somaiah V
So I was just looking for next couple of years what will be the capex that NRL would be complete the.
Ranjit Rath
Projects actually after next year we don’t foresee any major capex. The capex that will spread over beyond next year is the polypropylene unit which would actually be at the peak and polypropylene unit is about 7,200 crore. So that’s the spread.
Gaurav Jain
Okay, so a couple of questions. One on net debt at concern level. So what would be the net debt you gave NRL number also on the standalone and as well as the international ops. And also if you could give some consult net debt number. Sir, consult med.
Ranjit Rath
Okay, okay, okay. 34,000 net debt. I’m sorry, 34,000 crore.
Somaiah V
So this is the console level including 16,000 at NR?
Ranjit Rath
Yes, yes it is. Let me give you a breakup. It is 16,000 crore at NRL level. It is 16,000 crore@oil India level. The 16,000 crore in oil India level is primarily the external commercial borrowings.
Somaiah V
Sir, last question on the overseas assets if you could just give some color on the performance and dividend status.
Ranjit Rath
Dividend. You all have already taken note of the announcement that we have done in terms of our dividend declaration. The board took a very considered view that we must protect the interest of our shareholders. Therefore we having got a balanced number as far as the consolidated that where we have maintained the path that you would have already reported, we have maintained the same dividend in terms of our announcement. First it was 3.5 rupees per second. Yesterday we have announced 7. That brings it to 10.5 fully paid authorized share. So that is the dividend declaration which I have to offer right now.
Somaiah V
My question was on the dividends that we need to receive from the international ops. The Russian asserts. So any update on that? Okay, okay.
Ranjit Rath
Okay. So as far as Russian asset is concerned we have got two assets. One is Tars Uriac and one is Vancor. Now when I say Tars Uriac and Vancor both our exposure is about US$1 billion. As far as task Uriac is concerned we have got 100 plus percentage dividend back. As far as banker is Concerned it’s about 90.
Somaiah V
Any dividend that is still there which are yet to receive or so far we’ve got whatever that’s been declared. So far we have received everything.
Ranjit Rath
The dividends are in safe account of Oil India limited And the account lies with civil branch. That is SBI branch in Moscow. So it is in our account. The range the order of magnitude of retake money in Moscow branch is about $300 million.
Somaiah V
Thanks for the Clark. Thank you.
operator
Thank you. Next question is from the line of Moksh Ranka from Aurum Capital. Please go ahead.
Moksh Ranka
Hello sir. I wanted to ask and could you please provide some color regarding the northeast gas pipeline connectivity. Could you provide some color on that?
Ranjit Rath
Okay, I’ll. I’ll. I’ll. I’ll share that. The thought process is the main line which goes from Urja Ganga laid by Gail. The line has already reached Baihata. That is the north bank of Guwahati. And the pipeline is crossing Brahmaputra river to go to Guwahati. That is one second the northeast grid. Northeast gas grid which is supposed to connect to the gas sources. And then the capital of northeast. First phase is from Baihata to Namaligad where the river crossing a Brahmaputra Majuli in Jorhat and then it goes to Nigar. That line is full completed. Then the segment lines of connecting it to the respective capitals are work in progress.
You would appreciate that Tehran is so difficult that MEGG is taking some time. But what is more important is the evacuation possibility from the main producing field. That is the Dulia Jan or the main producing area of oil India and ONGC and other small gas field operators. We have got a dedicated pipeline called Dulia Jaan Nu Maligad pipeline. The capacity upgradation of that pipeline is underway. We are looking at 1 million standard cubic meter per day of today to 2.5 and the mechanical completion is already over. The commissioning work is under progress. We should be able to have the pipeline commission by April 2026. Utilizing this pipeline, Oil India Gas can reach and cater to the enhanced gas requirement of nrm. That is one.
Moksh Ranka
Okay. And is this duriage and hub going. To integrate with the iggl? And by when can we expect that also?
Ranjit Rath
I mean come. I think there is some disturbance. The Dulia Chan feeder line is just waiting to be approved by the government. Once the authorization is communicated to IGGL, that is Indra Dhanush Gas Grid Ltd. It will take about 18 months because it does not entail any major river crossings. So that would actually give us an opportunity of evacuating 3.5 million standard cubic meter of gas per day.
Somaiah V
Oh, okay. Got it. Thanks for the clarification. We are from. Thank you.
Ranjit Rath
Thank you.
operator
Thank you. We’ll take our next question from the line of Keshav Soni from Kotak Securities. Please go ahead.
Keshav Soni
Thanks for the opportunity. Can you please share the standalone capex guidance for FY26, 27 and 28.
Ranjit Rath
Standalone capex for this year for Oil India?
Keshav Soni
This year in 2720. Yeah. For oil India.
Ranjit Rath
Yeah. It is 8800 crore. Going forward it will hover around the same number or it will touch base about 9200 crore class.
Keshav Soni
Thank you so much for the clarity.
operator
Thank you. As there are no further questions, I now hand the conference over to management for closing comments. Over to you sir.
Ranjit Rath
First of all, thank you very much for this opportunity to interact with our colleagues, with our friends and our investor community, our shareholders, our analysts. It’s always good and great to interact because this gives us an opportunity to reach out to the people who matter as part of our insight sharing, as part of our strategy sharing, as part of our growth story sharing. So I hope we have been able to answer or respect your queries or questions or feedbacks reasonably well and we are open to any further interaction at any point of time. Please feel free to reach out to us. Thank you very much once again. While you have continued your trust in Oil India Ltd. We will look forward to having such reposed faith and trust in Oil India’s performance for days to come and years to come. Have an absolute and excellent day ahead. Thank you very much.
operator
Thank you members of the management team on behalf of Antique Stock Broking Ltd. That concludes this conference. Thank you for joining us and you will now disconnect your lines.
Ranjit Rath
Thank you.