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State-owned oil and gas company in India
This article is about the hydrocarbon exploration and production company. For the company involved in refining, pipeline transportation and marketing of petroleum products, see Indian Oil Corporation.
The company's history spans the discovery of crude oil in India in the year 1889, this was second in the World in the far east of India at Digboi and Naharkatiya, Assam to its present status as a fully integrated upstream petroleum company presently operating in more than 9 locations overseas. Recently, OIL acquired majority shares in Numaligarh Refinery Limited from Bharat Petroleum Corporation Limited, thus making Numaligarh Refinery Limited a subsidiary of OIL.
Oil India Limited (OIL) was initially formed as a joint venture between the Burmah Oil Company Limited (BOC) and Government of India. The first oilfield in India was discovered in Digboi, Assam, as early as 1887, by a predecessor of Assam Oil, a subsidiary of BOC. (Corley, T A B, 1983, The History of the Burmah Oil Company, 1886–1983). Early in 1950s, Assam Oil discovered the first new oilfield in post-independence India, under the leadership of the geologist W. B. Metre, at Naharkatiya. Oil India was formed in 1959 to operate this new field and other nearby concessions, with Burmah Oil holding 2/3rd equity holding and Government of India holding 1/3rd equity. Later in 1961, this was changed to 50/50 shareholding. In 1982, Burmah Oil transferred all its shares to Government of India and Oil India became 100% Government owned. It was converted to a public limited company on 30 August 1995.
Recoverable oil reserves. As of 2014[update] the company produced 3.466 MMT of crude oil, 2625.81 million cubic metre at standard conditions of natural gas and 46,640 tonnes of LPG.[4] Most of this was produced from its traditionally rich oil and gas fields concentrated in the Northeastern part of India and contribute around 80% of total oil and gas produced in the region. The search for newer avenues has seen OIL spreading out its operations in onshore / offshore Orissa and Andaman, Cauvery offshore, Tamil Nadu, Arabian Sea, deserts of Rajasthan, onshore Andhra Pradesh, riverbeds of Brahmaputra and logistically difficult hilly terrains of the Indian state Mizoram and Arunachal Pradesh. In Rajasthan, OIL discovered gas in 1988, heavy oil / bitumen in 1991 and started production of gas in 1996. The company has accumulated over a hundred years of experience in the field of oil and gas production, since the discovery of Digboi oilfield in 1889.[citation needed]
The company has over 100,000 square kilometres (39,000sqmi) of licensed areas for oil and gas exploration. It has emerged as a consistently profitable International company[citation needed] and present in Libya, Gabon, Nigeria, Sudan, Venezuela, Mozambique, Yemen, Iran, Bangladesh and United States. OIL has recently emerged in the offshore giant gas-field project of Mozambique and also made discovery of oil & gas in Gabon as an Operator and Libya as non-operator. OIL acquired Shale oil asset in United States during 2012.
In recent years, Oil India Limited has stepped up exploration and production activities significantly in north-eastern India. OIL has set up its NEF (North East Frontier) project to intensify its exploration activities in the frontier areas in North East, which are logistically very difficult and geologically complex.[citation needed] Presently, exploration activities are in progress along the Trust Belt areas of Arunachal, Assam including Mizoram. The company operates a crude oil pipeline from Duliajan to Barauni, in Bihar.
History
Oil India was founded on 18 February 1959, with its registered office in Duliajan, Assam, as a privately held oil exploration company. Burmah Oil Company originally held two-thirds of the stock and the Government of India (via the Office of the President) held the rest.[5] This joint venture gave birth to the exploration and drilling at two new sites in Naharkatiya and Moran in Dibrugarh district[6][7] which had then been just recently discovered.[8] In 1961,the Government of India acquired 50% ownership interest.[5] In 1981, the Government of India acquired 100% of the equity interest in the company which by then controlled all the oilfields of Tinsukia and Dibrugarh districts.[5][6]
In 1961, construction of the company's first gas-powered power plant was completed in Duliajan, Assam. IN 1962, a 401km (16-inch diameter) pipeline from Duliajan to Guwahati was completed. The following year, a 756km (14-inch diameter) extension to the pipeline from Guwahati to Barauni in Bihar was completed.[5]
A 1,157-kilometre (719mi) long fully automated telemetric pipeline with 212 kilometres (132mi) of looping and a total capacity to transport over 6.0 million tonnes per year remains the lifeline of the company. Commissioned in 1962, the double skinned crude oil pipeline traverses 78 rivers including the Brahmaputra River as it meanders through paddy fields, forests and swamps. There are 11 pumping stations, 18 repeater stations and two terminals at Numaligarh and Rongapani in Udalguri district. The engines that drive the giant pumps along the pipeline have more than two hundred thousand hours of service and established a world record of machine hours.[citation needed]
OIL completed the construction of a 660-kilometre (410mi) pipeline from Numaligarh to Siliguri in November 2007. The company also sells its gas to different customers in Assam: Brahmaputra Valley Fertilizer Corporation Limited (BVFCL), ASEB, NEEPCO, Indian Oil Corporation's retail Assam Oil Division, and APL as well as to the Rajasthan Rajya Vidyut Utpadan Nigam formerly part of the Rajasthan State Electricity Board. It also produces liquefied petroleum gas (LPG) at its plant in Duliajan, Assam.
OIL's overseas E & P portfolio consists of 17 Blocks spread over 10 countries: Libya, Gabon, Nigeria, Yemen, Venezuela, USA, Mozambique, Myanmar, Bangladesh and Russia. In addition to the above, OIL has 10% PI in 741km long Multiproduct pipeline construction and operation project in Sudan which was completed in 2005.
Subsidiaries
Oil India Limited carries out operations through a total of five subsidiaries, namely OIIL (Oil Indian International Limited), Oil India International BV, Oil India Sweden AB, Oil India (USA) Inc and OIL Cyprus.[21]
During 2016-17
OIL along with Indian Consortium partners IOCL and BPRL acquired two producing assets in Russia - 23.9% stake in Vankorneft, Russia and 29.9% stake in Taas-Yuryakh, Russia. These assets are held through OIL's WOS Oil India International Pte. Ltd. incorporated in Singapore.
TYNGD is a producing asset with current production of 1.13 MMT and expected peak production of 5 MMT by 2021. It is one of the largest green fields located in Eastern Siberia. TYNGD is ramping up required infrastructure to meet peak production level.
Vankorneft has two licences - Vankor and North Vankor. It is a giant oil & gas producing field located in Eastern Siberia, and contributes to about 10% of Rosneft's entire oil production. The commercial agreements for sale of oil and gas are in place for the asset. Vankorneft started commercial production from 2009 and all infrastructure is in place.
In License-61 in Russia, the development and production activities are undergoing at present. OIL is taking an active role in the development activities and supporting the operator of the license, M/s Petroneft Resources by providing expert opinions in selected areas.
In Venezuela, Carabobo Project where OIL has PI of 3.5%, the development activities in the field are under progress.
In the USA Liquid rich shale asset where OIL has 20% PI, OIL holds approx. 14172.75 net acres of the asset. Currently, OIL's share of daily production from this asset is around 350 barrels (56 cubic metres) per day of oil equivalent.
OIL together with OVL, has 10 per cent participating interest (OIL 4%, OVL 6%) in the Mozambique block in the Area 1 Rovuma Field. , the Initial development of Integrated Golfino-Atum (GA) Project. . The Area 1 JV is presently working on Four (4) elements, viz. (i) Legal and Contractual framework, (ii) Resettlement of the local community, (iii) Marketing of LNG, (iv) Project Financing, that must be sufficiently progressed before Operator Anadarko and the participants can determine economic viability and take Final Investment decision. The first production and revenue from the field is expected to be generated in fiscal year 2022/2023.
In Libya, in the block Area 95/96,OIL holds 25% PI and Sonatrach is the operator. The consortium signed an Interim Arrangement Agreement to continue in the block till May 2018.
In Gabon, Block SHAKTHI, a discovery has been made, which produced oil with gas.
In Nigeria, Based on the interpreted results, consortium decided to re-enter the (Discovery Well) and re-entry in the well is under progress now.
In Bangladesh, seismic acquisition and processing of acquired data is almost complete.
In Myanmar, the Consortium led by OIL has completed Geoscientific Studies.
OIL's overseas portfolio has contributed significantly to accretion of reserves and production of oil and Natural gas. During 2016–17, OIL's Crude Oil and Natural Gas Production for its proportionate share of stakes in the overseas producing assets stood at 0.9069 MMT and 352.99 million cubic metre at standard conditions respectively.
Digboi is a town and a town area committee in Tinsukia district in the north-eastern part of the state of Assam, India.
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Waman "Dādā" Bapuji Metre was the doyen of Indian petroleum geologists. He was awarded India's third-highest civilian award, the Padma Bhushan in 1968, for his contribution to petroleum exploration and development in India and for his 'significant contribution to the growth of the oil industry in the country'.
Duliajan is an industrial town of Dibrugarh district in the Indian state of Assam located in the upper north-east corner of India. The town is about 45 km east of Dibrugarh City. It is particularly known for its oil related industry, Oil India Limited, one of the country's largest oil and gas companies. There is also other central government owned companies like B.C.P.L. GDU Station, N.E.E.P.C.O., D.N.P.L., LPG Plant and the Shivani company which is India's largest private company for drilling. Assam Gas Company Limited, which carries out business related to natural gas in India owned by the Government of Assam, is also located in this township.
The Pakistan Oilfields Limited is a Pakistani oil and gas exploration company which is a subsidiary of UK-domiciled Attock Oil Company. It is based in Rawalpindi, Punjab Province, Pakistan.
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Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector oil and gas company, headquartered in Mumbai. It is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas. It operates three refineries in Bina, Kochi and Mumbai. BPCL was ranked 309th on the Fortune Global 500 list of the world's biggest corporations in 2020, and 1052nd on Forbes Global 2000 in 2023.
The Ministry of Petroleum and Natural Gas (MOP&NG) is a ministry of the Government of India responsible for the exploration, production, refining, distribution, marketing, import, export, and conservation of petroleum, natural gas, petroleum products, and liquefied natural gas in the country. The ministry is headed by Cabinet minister Hardeep Singh Puri, while its secretary is Pankaj Jain, a 1990-batch IAS officer of the Assam-Meghalaya cadre. Dharmendra Pradhan, who served from 26 May 2014 to 7 July 2021, is its longest serving minister till date.
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Gas supplies meet 56% of Bangladesh's energy demand. However, the country faces an acute energy crisis in meeting the demands of its vast and growing population. Bangladesh is a net importer of crude oil and petroleum products. The energy sector is dominated by state-owned companies, including Petrobangla and the Bangladesh Petroleum Corporation. Chevron, ConocoPhillips, Equinor, Gazprom and ONGC are major international companies engaged in Bangladesh's hydrocarbon industry, with Chevron's gas fields accounting for 50% of natural gas production.
Indian Oil Corporation Limited, trading as IndianOil, is an Indian multinational oil and gas company under the ownership of Government of India and administrative control of the Ministry of Petroleum and Natural Gas. It is a public sector undertaking which is registered in Mumbai but headquartered in New Delhi. It is the largest government-owned oil producer in the country both in terms of capacity and revenue. It has consolidated refining capacity of 80.55MMTPA.
The petroleum industry in India dates back to 1889 when the first oil deposits in the country were discovered near the town of Digboi in the state of Assam. The natural gas industry in India began in the 1960s with the discovery of gas fields in Assam and Maharashtra. As on 31 March 2018, India had estimated crude oil reserves of 594.49 million metric tonnes (Mt) and natural gas reserves of 1339.57 billion cubic metres of natural gas (BCM).
The 2020 Assam gas and oil leak, also referred as the Baghjan gas leak, was a blowout and methane leak that happened in Oil India Limited's Baghjan Oilfield in Tinsukia district, Assam, India on 27 May 2020. The blowout occurred at Well No. 5 in the Baghjan Oil Field, resulting in a leak of natural gas. The leaking well subsequently caught fire on 9 June 2020, and resulted in three deaths (Officially), large-scale local evacuations, and environmental damage to the nearby Dibru-Saikhowa National Park and Maguri-Motapung Wetland.
↑ Ghosh, Austin Manindra Nath (1959), "A review of the possible oil-bearing sedimentary basins of India", Proceedings of the Symposium on the Development of Petroleum Research of Asia and the Far East, Mineral Resources Development Series, 10 (2): 131–134
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₹37,646 crore (US$4.3 billion) (2024) [1] 
₹92,152 crore (US$11 billion) (2024) [1] 
