Oil India Limited (OIL) is an Indian hydrocarbon exploration and production company engaged in the upstream petroleum sector. It is involved in the exploration, development, and production of crude oil and natural gas, transportation of crude oil, and production of liquid petroleum gas (LPG). The company operates as a public sector undertaking (PSU) under the administrative control of the Ministry of Petroleum and Natural Gas, Government of India.
| Name | Oil India Limited |
|---|---|
| Type | Public sector undertaking |
| Industry | Oil and gas (upstream) |
| Sector | Hydrocarbon exploration and production |
| Country | India |
| Parent ministry | Ministry of Petroleum and Natural Gas |
| Listing | Bombay Stock Exchange, National Stock Exchange of India |
Oil India traces its origins to the discovery of crude oil in the north-eastern region of India, particularly in the Digboi and Naharkatiya–Moran fields of Upper Assam, an area that has been central to Indian petroleum activity since the late nineteenth century. The company was incorporated to undertake systematic exploration and production of hydrocarbons, initially as a joint venture arrangement involving the Government of India and a foreign partner, before being converted into a wholly government-owned enterprise.
Oil India's principal producing assets are concentrated in Assam and Arunachal Pradesh in the north-east of India, with additional exploration interests in other Indian sedimentary basins, including Rajasthan, the Krishna–Godavari basin, and offshore acreages. The company also operates a crude oil trunk pipeline carrying crude from Assam to refineries in the eastern region.
Oil India has international and domestic subsidiaries and joint-venture interests, including participations in overseas oil and gas assets pursued in line with India's energy security objectives. The company has also expanded into renewable energy and city gas distribution through its subsidiary and partnership structures.
As one of India's principal upstream oil and gas companies, Oil India contributes to domestic crude oil and natural gas production and supports refineries and gas-based industries, especially in eastern and north-eastern India. It is one of the Maharatna and Navratna category public sector enterprises associated with the Indian hydrocarbon sector, alongside the Oil and Natural Gas Corporation, and plays a role in the country's strategy to reduce import dependence on hydrocarbons.