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Oil India Limited (OIL)


HistoryThe story of Oil India Limited (OIL) traces and symbolises the development and growth of the Indian petroleum industry. From the discovery of crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated upstream petroleum company, OIL has come far, crossing many milestones.

On February 18, 1959, Oil India Private Limited was incorporated to expand and develop the newly discovered oil fields of Naharkatiya and Moran in the Indian North East. In 1961, it became a joint venture company between the Indian Government and Burmah Oil Company Limited, UK.

Introduction

In 1981, OIL became a wholly-owned Government of India enterprise. Today, OIL is a premier Indian National Oil Company engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. OIL also provides various E&P related services and holds 26% equity in Numaligarh Refinery Limited.

The Authorized share capital of the Company is Rs. 2000 Crores. The Issued, Subscribed and Paid share capital of the company is Rs. 1134.90 Crores. At present, The Government of India, the Promoter of the Company is holding 66.13% of the total Issued & Paid-up Capital of the Company. The balance 33.87% of the Equity capital is held by Public and others including Bodies Corporate, Mutual Funds, Banks, FIIs, Resident Individuals etc

Oil India Limited

OIL has over 1 lakh sq km of PEL/ML areas for its exploration and production activities, most of it in the Indian North East, which accounts for its entire crude oil production and majority of gas production. Rajasthan is the other producing area of OIL, contributing 10 per cent of its total gas production.

Additionally, OIL’s exploration activities are spread over onshore areas of Ganga Valley and Mahanadi. OIL also has participating interest in NELP exploration blocks in Mahanadi Offshore, Mumbai Deepwater, Krishna Godavari Deepwater, etc. as well as various overseas projects in Libya, Gabon, USA, Nigeria and Sudan.

In a recent CRISIL-India Today survey, OIL was adjudged as one of the five best major PSUs and one of three best energy sector PSUs in the country.

Core Purpose

"The fastest growing energy company with a global presence providing value to the stakeholders"

OIL's Vision

  • Oil India is the fastest growing Energy Company with highest profitability.
  • Oil India delights the customers with quality products and services at competitive prices.
  • Oil India is a Learning Organization, nurturing initiatives, innovations and aspirations with best practices.
  • Oil India is a team, committed to honesty, integrity, transparency and mutual trust creating employee pride.
  • Oil India is fully committed to safety, health and environment.
  • Oil India is a responsible corporate citizen deeply committed to socio-economic development in its areas of operations.

Committees of the Board (Constitution & Terms of Reference )

Human Resource

Human Resource Management at OIL is an integrated approach focusing on organization's faith to work with people and work through them to manage change and strive for continued excellence.

The experience and rigors of a century's existence of oilfield operations has bred a work culture without a parallel in the annals of oil companies. Growth, dynamism, adaptability and technological awareness has marked the existence of OIL, and today it is OIL's prized workforce whose unstinted dedication, dynamism and commitment has led the Company on to new frontiers of progress.

The Company works towards building positive employee-organization relationship through nurturing initiatives, innovations and aspirations with best HR practices and commitment. The HR policies and practices are always sensitive to employees needs towards building a professional working environment. The Company has an excellent record in maintaining good industrial relations since its inception. The strategy today is to build a cohesive and harmonious industrial relations climate through mutual cooperation, trust and integration of various unions in its fields and projects.

As on March 31, 2017, OIL has 7228 employees consisting of 1506 executives and 5722 unionised employees. Optimum development of Human Resources stands out to be the byword of the Company's objectives, concomitant with the country's globalization initiatives.

The Company lays great emphasis on continual learning, training and development. For this purpose, it has established two mega institutes at its Fields' Headquarters at Duliajan, Assam- The Management Training and Development Centre and the Employee Training and Development Centre which regularly conducts, amongst others, Level Based Customized General Management cum Leadership/ capability building programmes with reputed management institutes/faculty for different levels of officers as well as employees.

The Institute of Well Control Technology (IWCT) was set up in 2012 at the premises of Learning & Development Department, which provides world class technology, training and exposure to internal as well as external participants on “Rotary Drilling Well Control Course” and the “Well Intervention Pressure Control Course” as per International Well Control Forum (IWCF) certification syllabus by professionally trained and certified internal trainers.

Sphere of Activities 

Sustainability Report of OIL

Sustainable Development Policy of OIL

 

 

 
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