Oil India Limited (OIL) is the second largest hydrocarbon exploration and production Indian public sector company with its operational headquarters in Duliajan, Assam, India. The company is a state-owned Navratna under the administrative control of India's Ministry of Petroleum and Natural Gas with its corporate offices in Noida in the New Delhi-NCR region.

On February 18, 1959, Oil India Private Limited was incorporated to expand and develop the newly discovered oil fields of Naharkatiya and Moran in the Indian North East. In 1961, it became a joint venture company between the Indian Government and Burmah Oil Company Limited, UK.

In 1981, OIL became a wholly-owned Government of India enterprise. Today, OIL is a premier Indian national oil company engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. OIL also provides various E&P related services and holds 26 per cent equity in Numaligarh Refinery Limited.

OIL has many alliances & product sharing contracts.

Product sharing contracts
In the E&P sector, in India, OIL has signed Production Sharing Contracts (PSCs) with private companies like Essar Oil, Hindustan Oil Exploration Company, Geo Global Resources, Geo-Enpro Petroleum, Hindustan Mittal Energy, Geo-Petrol International Inc, Shiv Vani, Assam Company India and Reliance Industries. Besides bidding on its own, OIL has joined ONGC, GAIL, BPRL, HPCL, NTPC, BGEPIL, APGIC, GSPCL and IOC in acquiring exploration blocks offered under New Exploration Licensing Policy (NELP) of the Government of India.

Alliances
Acquisition of overseas exploration blocks and oil & gas properties is a strategic focus area of OIL. To facilitate this strategy, the Government of India extended the mechanism of Empowered Committee of Secretaries (ECS) for quick clearance of overseas proposals of OIL in consortium with IOC and other public sector companies in December 2005.
OIL is actively pursuing opportunities to acquire producing E&P assets, exploration acreages, etc in Africa, Middle East, South East Asia, South America, CIS countries and Russia, and is willing to associate with reputed companies to jointly fulfill this objective. In India, OIL welcomes joint venture opportunities in gas-based industries including the power sector and trunk pipeline ventures.

OIL provided E&P consultancy for the first time since its inception to Morris Petroleum, incorporated in Nigeria, towards evaluation and submission of bids for development of marginal fields offered by the Government of Nigeria.

Latest Updates

• Oil India gains 4 per cent as Q3 profit jumps 43 per cent
• Oil India Q3FY19 – crude oil and natural gas segment drive decent performance
• Oil India Standalone December 2018 Net Sales at Rs 3,514.03 crore, up 23.19 per cent Y-o-Y
• OIL raises $550 million through overseas bonds issue

Procurement Contacts:

Industrial products tendered during the last three months