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    Oil India Limited

  1. Oil India Limited (OIL) is a premier Indian National oil company under the administrative control of Ministry of Petroleum and Natural Gas, Govt. of India. OIL is engaged in the business of Exploration, Development and Production of Crude Oil and Natural Gas, Transportation of Crude Oil and Production of LPG. The Company has over 1 lakh sq. km. of license areas. Oil India Limited is the pioneer in exploration and production of hydrocarbon in India, has been serving the nation for over four decades. Oil India is an integrated upstream petroleum company performing the following main activities:
    • Exploration for hydrocarbons.
    • Production of crude oil and natural gas.
    • Transportation of crude oil to refineries.
    • Supply of gas to consumers.
    • Extraction and bottling of LPG.
      Oil India owns and operates a wide array of facilities and equipment to carry out seismic and geodetic work, 2D and 3D data acquisition, processing and analysis, onshore and offshore drilling, oil and gas field development and production, LPG production and other ancillary services to make it a fully integrated E&P company.
  2. The Company has been steadily improving its performance year after year in the areas of production, sales, accretion to reserves, etc. The physical and financial performances in the last three years are as follows:
  3.  

    2002-03

    2003-04

    2004-05

    Production

    • Crude Oil (MMT)

    • Natural Gas (MMSCUM)

    • LPG (MT)

    2.950

    1743.311

    54,320

    3.002

    1887

    51,500

    3.196

    2009.895

    49,500

    Sale

    • Crude Oil (MMT)

    • Natural Gas (MMSCUM)

    • LPG (MT)

    3.20

    1237.300

    53,894

    3.35

    1378

    51,115

    3.104

    1471.958

    50,086

    Financial Performance

    • Net Worth (Rs./Crore)

    • Sales / Operating Income (Rs./Crore)

    • PAT (Rs./Crore)

    • Dividend (%age)

    • EPS (Rs. Share)

    • Book Value / Share (Rs./Share)

    Audited

    3456.90

    2896.83

    916.73

    130%

    42.84

    161.53

    Audited

    4028.66

    3145.03

    949.70

    140%

    44.38%

    188.25

    Un-Audited

    4670.28

    4638.03

    946.36

    Interim 60%*

    44.22

    217.94

    * An interim dividend @60% was paid for the year 2004-05. Final dividend has not yet been declared. However, as per the past practice, total dividend in any case will not be less than 30% of PAT.

  4. Oil India, which has traditionally been producing around 3 MMTPA of crude and 5 MMSCMD of natural gas, has recently embarked on an overall performance-improvement exercise. It has been successful in arresting the declining trend in production of crude oil from its ageing fields in the North-East region by application of latest technology land equipment. It has, in fact, recorded a growth of 20 per cent in the last 18 months. It is worth mentioning that over the years the Reserve Accretion Ratio for Oil India has consistently been over 1. The company is optimistic of continuing with its growth plan and expects to achieve 4.00 MMTPA of crude oil and 7 MMSCM of natural gas in the next financial year, i.e.2006-07.

  5. Asia's first cross-country Pipeline is owned and operated by Oil India. This 1157 KM long pipeline traverses through three states, viz. Assam, West Bengal and Bihar, is the lifeline of the North-East as it carries the crude oil, which is very vital for the survival of the four Refineries in the region.
  6. The Company is currently in the process of constructing a 660 KM long Product Pipeline from Numaligarh to Siliguri. The Pipeline, when commissioned in early 2006, is expected to solve the product evacuation problem of the modern and state-of-the-art Numaligarh Refinery which has been set up under the Assam Accord with the objective of creating all-round socio-economic development in the State.

  7. The Company's operational areas are spread in the states of Assam, Arunachal Pradesh, Orissa, Rajasthan, Uttar Pradesh and Uttaranchal. Active participation in the NELP bids has helped the Company to acquire interests in 13 Blocks and with Operatorship in five of them. Out of the balance eight Blocks, five Blocks are in deep sea, wherein ONGCL is the operator with participating interest in the range of 15-20%. The Company is determined to aggressively bid for Blocks offered in the NELP-V Rounds which is due for closure on 31.5.2005.
  8. Oil India has identified acquisition of overseas exploration and production ventures as an essential requirement for fast growth. The Company already has participating interests in various overseas projects, such as, in Iran, Cote d'lvoire, and Sudan. It has recently formed a 50:50 strategic alliance with Indian Oil Corporation Limited (IOC) to jointly pursue exploration and production opportunities abroad and to achieve synergy in the downstream sector. This consortium has achieved a major breakthrough in its maiden attempt by winning a Block in the highly prospective Sirte Basin in Libya with the Operatorship for Oil India, against competitive bidding.
  9. As a corporate citizen, Oil India has always been and is conscious of its responsibility towards Socio-Economic Development. The Organization's deep commitment towards this objective is obvious from the fact that it has adopted a separate Vision Statement for this purpose. The Company earmarks a substantial amount annually for carrying out socio-economic initiatives, which also include health care and education, in all the areas where it has operations.
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