OIL INDIA LIMITED (OIL)
- OIL is a Government of India enterprise, is engaged in the business of exploration, production and transportation of crude oil and natural gas.
- On February 18, 1959, Oil India Private Limited was incorporated to expand and develop the newly discovered oil fields of Naharkatiya and Moran in Assam.
- In 1961, it became a joint venture company between the Indian Government and Burmah Oil Company Limited UK.
- In 1981 OIL became a wholly-owned Government of India enterprise.
- The paid-up share capital of the company is Rs 240.45 crore, in which Government holding is 78.43%.
- OIL has been accorded “Navaratna” status from first quarter of 2010-11.
- In country operational areas are spread over Assam, Arunachal Pradesh, Mizoram, Bihar, Andhra Pradesh, Puducherry, Andaman and Rajasthan.
- OIL has presence in nine countries, Viz., Venezuela, Libya, Gabon, Iran, Nigeria, Yemen, Sudan, Timor Leste and Egypt, pursuing various activities.
- In addition, OIL owns and operates a trunk crude oil pipeline in the north east region of the country for transportation of crude oil to feed Numaligarh, Guwahati and Bongaigaon refineries.
- OIL also owns and operates a branch line to feed Digboi refinery.
GAS AUTHORITY OF INDIA LIMITED (GAIL)
- The setting up of GAIL in August 1984 heralded a new era of natural gas in the country.
- Having started as a gas transmission company during the late eighties, it grew over the years by building a large network of natural gas trunk pipelines covering a length of over 8700 km.
- GAIL has set up LNG import infrastructure and also focusing on areas like city gas distribution, petrochemicals business and creating a portfolio of renewable business.
- The expansion of existing petrochemical plant at Pata is ahead of schedule and physical progress of 48% has been achieved.
- The Company successfully concluded acquisition of 20% interest in Carrizo Oil and Gas Inc.’s Eagle Ford Shale acreage in the USA through its recently incorporated subsidiary, GAIL Global (USA) Inc.
- Besides this, the Company has signed a 20 year Sale and Purchase Agreement with Sabine Gas Liquefaction LLC, for supply of 3.5 million tonnes per year of LNG.
- With respect to the transnational Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline, the Company has executed the Gas Sales and Purchase Agreement with Turkmengaz for 30 years.
