Oil India Limited

Oil India Limited

Oil India Limited (OIL), a Maharatna CPSE, is India’s second-largest national oil and gas company, originating from the first commercial oil discovery in Digboi, Assam, in 1889. Formally incorporated in 1959, it became a government-owned enterprise in 1981, specializing in upstream exploration and production with a growing portfolio in midstream and renewable energy. 

Key Historical Milestones

• 1889: First oil deposits discovered in Digboi, Assam, marking the beginning of the petroleum industry in India.
• 1959: Oil India Private Limited was incorporated on February 18, 1959, to develop oil fields in Naharkatiya and Moran.
• 1961: Became a joint venture company between the Government of India and Burmah Oil Company Limited, UK.
• 1981: OIL became a wholly-owned Government of India enterprise.
• 2024: Recognized as a Maharatna company, expanding its footprint globally and engaging in renewable projects like green hydrogen.

Evolution and Operations

• Expansion: From its roots in Assam, the company expanded exploration to Rajasthan and later internationally to countries including Libya.
• Integration: As a fully integrated company, it operates crude oil pipelines and has a significant presence in the downstream sector, contributing substantially to India's energy security.
• Modern Focus: OIL is enhancing its portfolio to include green energy, including solar and wind projects, while upgrading technology for mature field management.