A composition for treatment of a subterranean formation, which may be used for water control, is comprised of at least one of 1) a premix of an oleochemical polyol, at least one of polyisocyanate, polycyanate and polyisothiocyanate, and a blocking agent to temporarily block all or a portion of free reactive groups of said at least one of polyisocyanate, polycyanate and polyisothiocyanate. Alternatively, or in addition, the composition may be comprised of a solvent and 2) a polyurethane prepolymer formed by reacting an oleochemical polyol and at least one of polyisocyanate, polycyanate and polyisothiocyanate. A blocking agent may also be used with the polyurethane prepolymer. The composition may be used in a method of treating a subterranean formation penetrated by a wellbore by introducing the composition into the formation through the wellbore. In another embodiment, a method of treating a subterranean formation penetrated by a wellbore is carried out by forming a treatment fluid containing at least one of 1) palmitic acid or its derivatives and 2) palm oil and at least one of an hydrolyzing or oxidizing agent to facilitate formation of palmitic acid or its derivatives. The treatment fluid also includes a source of a monovalent ions. The treatment fluid is introduced into the wellbore for treatment of the subterranean formation.