Oil India Limited
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Oil India Limited (OIL) is among the primary national oil company. The company is into the commercial activity pertaining to the production, exploration, transportation of crude oil and natural gas.
The Oil India Limited falls under the Schedule A category company in the Government of India's Ministry of Petroleum and Natural Gas. At present the company has a authorized capital of about ` 250 crores. The Government of India owns majority of the stake amounting to about 98.13% and the total worth of Oil India Limited is 5848.30 Crores.
The Oil India Limited (OIL) was set up in the year 1959, as the Oil India Private Ltd in order to gear up the exploration process in the North eastern sector of the country. The company was transformed into a fully owned organization of the Government of India and came to be known as the Oil India Limited (OIL).
The major working areas of the Oil India Limited (OIL) is in the North east, Rajasthan, etc. Presently explorations are being done in the Mumbai deep water, Mahanadi offshore, onshore areas of Ganga valley, Krishna Godavari deep water, etc by the Oil India Limited.
Objectives of the Oil India Limited (OIL)
The Oil India Limited (OIL) was set up in the year 1959, as the Oil India Private Ltd in order to gear up the exploration process in the North eastern sector of the country. The company was transformed into a fully owned organization of the Government of India and came to be known as the Oil India Limited (OIL).
The major working areas of the Oil India Limited (OIL) is in the North east, Rajasthan, etc. Presently explorations are being done in the Mumbai deep water, Mahanadi offshore, onshore areas of Ganga valley, Krishna Godavari deep water, etc by the Oil India Limited.
Objectives of the Oil India Limited (OIL)
- To speed up the exploration process for increasing the reserves of hydrocarbon
- To gear up the development in order to increase the production of crude oil and gas
- To increase the extent of exploration for hydrocarbons in both India and abroad
- To increase the extent of activities by involving in the oilfield services sector in the national as well as international sphere
- To create enough internal resources in order to go about the projected programmes of the Oil India Limited after thorough financial analysis
- To promote for the sustenance of the environment
- To increase the implementation of operational safety measures
- To have maximum development and the best usage of the work force
- Shri M.R. Pasrija, Chairman and Managing Director
- Shri S.K. Patra, Director (E & D)
- Shri N.M. Bora, Director (Operations)
- Shri J.K. Talukdar, Director (HR & BD)
- Shri T.K. Ananth Kumar, Director (Finance)
- Smt. Aditi S. Ray, Director
- Shri A.K. Jain, Director
- Exploration & Development: The company follows a highly scientific and systematic exploration process with a success rate of nearly 65%. The company also has seismic data acquisition capacities in 2-dimensional and 3-dimensional variants equipped with technologically advanced satellite navigation systems.
- Drilling & Workover Services: The Oil India Limited at present has control on 14 workover rigs and 13 drilling rigs. Till date the company has covered nearly 3.5 million meters of area and dug more than 1000 wells.
