Oil India Limited (OIL) is a fully integrated National petroleum E&P company in the upstream sector in India. OIL owns and operates a wide array of facilities & equipment to carry out seismic & geodetic work, 2D & 3D data acquisition, processing & analysis, drilling, oil & gas field development & production, LPG production and Pipeline transportation with all other ancillary services to make it a
fully integrated E&P Company. It has vast experience in reservoir management of ageing/ depleting fields and expertise in IOR/EOR operations. It has over 2000 km of trunk & feeder pipeline with in-house Operation and Maintenance. The Company’s current in-country operation spreads over various onshore ML and PEL areas in the states of Assam, Arunachal Pradesh, Mizoram, Andhra Pradesh, Puducherry, and Rajasthan. Besides, OIL is venturing into both shallow and deep water basins in K-G basin, Cauvery and Andaman off shore either jointly or in partnership with other consortium partners. OIL's overseas E & P portfolio comprises of 16 blocks that are spread over 10 countries covering Libya, Gabon, Nigeria, Yemen, Venezuela, USA, Mozambique, Myanmar, Bangladesh and Russia. In addition to the above, OIL has 10% PI in a product pipeline in Sudan.
► In Venezuela, Carabobo Project where OIL has PI of 3.5%, current average monthly production from the project stands at approximately 7,500 BOPD. In the USA Liquid rich Shale Asset where OIL has 20% PI, OIL’s share of oil and gas production stood at 238,009 BOE.
► During the year, 2013-14, OIL together with OVL, has acquired 4% Participating interest in Area 1 Rovuma Field in Offshore Mozambique. During 2013-14, the OIL-OVL consortium were also awarded two shallow offshore Blocks SS-04 and SS-09 in the Bangladesh Bid Round-2012.
► The Company together with its consortium partners won two offshore blocks in bidding round announced by Government of Myanmar.
► OIL completed acquisition of 50% shareholding of Worldace Investments Ltd., a subsidiary of M/s. which owns Licence 61 in Tomsk region in Russia. It is a producing block and marks OIL’s entry into Russia.
