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Oil India Ltd. Company History and Annual Growth Details

Incorporation of our Company

Our Company was incorporated as a private limited company on
February 18, 1959 under the name 'Oil India Private Limited', pursuant
to a promoters agreement dated January 14, 1958, between the President
of India, Burmah Oil Company Limited and Assam Oil Company Limited. At
the time of our incorporation, Burmah Oil Company Limited and the President
of India held two-thirds and one third of our Equity Share capital, respectively.
Our Company was incorporated with the main object of exploration and
production of crude oil (including natural gas). Our Company became a
deemed public limited company with effect from March 28, 1961 and the
word 'private' was deleted from the name of our Company on May 4, 1961.

Pursuant to an agreement, dated July 27 1961, between Burmah Oil Company
Limited and Assam Oil Company Limited and our Company, Burmah Oil Company
Limited transferred certain of its Equity Shares to the President of India, and both
became equal partners holding a 50:50 interest in the Equity Share capital of our
Company. Thereafter, pursuant to the Burmah Oil Company (Acquisition of
Shares of Oil India Limited and of the Undertakings in India of Assam Oil
Company Limited and the Burmah Oil Company (India Trading) Limited) Act,
1981, the Equity Shares in our Company held by Burmah Oil Company Limited
were transferred to the President of India, pursuant to which our Company
became a wholly owned Government company. We received a fresh
certificate of incorporation on conversion to a public limited company from the
RoC on August 30, 1995.

Major events

The following table illustrates the major events in the history of our Company since
our incorporation in 1959.

Year Event

1959 Oil India Private Limited incorporated with Burmah Oil Company Limited holding
two-thirds of the Equity Share capital and the President of India holding one-third
of the Equity Share capital

1961 Oil India Private Limited transformed into an equal partnership joint venture
company between Burmah Oil Company Limited and the President of India

1961 Gas-based power plant commissioned at Duliajan, Assam

1962 Completed construction of a 401 km (16 inch diameter) pipeline from Duliajan to
Guwahati

1963 Completed construction of a 756 km (14 inch diameter) pipeline from Guwahati
to Barauni

1972 Discovery of commercially producible crude oil in Jorajan fields and Kharsang fields

1981 Our Company became a wholly owned enterprise of the GoI

1982 LPG plant based on turbo expander technology commissioned at Duliajan, Assam

1988 Discovery of commercially exploitable gas reserves in Tanot, Rajasthan

1989 Discovery of commercially exploitable gas reserves in Dandewala, Rajasthan

1990 Discovery of commercially producible crude oil in ecocene formation in Dikom

1991 Dicovery of commercially producible crude oil in ecocene formation in Kathaloni

1992 Entered into an agreement with Hydrocarbon Research Incorporated, for initiating
coal oil coprocessing studies

1995 Entered into PSCs with various companies, to revive the declining Kharsang producing
field

2002 Entered into a consortium with OVL and IOCL to execute a service contract with
the National Iranian Oil Company for the Farsi Block, Iran

2004 Upgrading of our Company to a schedule A company

2004 Entered into a memorandum of understanding with IOCL for pursuing overseas
exploration and production opportunities

2004 Acquired participating interest in a pipeline outside India by entering into an
agreement with OVL for construction of a 741 km long pipeline in Sudan

2005 Entered into a memorandum of understanding with IOTL for jointly taking up pipeline
and related projects in India and overseas

2005 Entered into a memorandum of understanding with ITERA Oil and Gas Company,
Russia, to jointly pursue exploration and production opportunities in India and
overseas, including in Libya

2005 Awarded Block 86 (Sirte basin) and Block 102/4 in Libya, along with IOCL

2006 Executed a farm in agreement with IOCL and Marvis Private Limited, Singapore
acquiring a participating interest in Block Shakthi, Gabon to our Company and IOCL

2006 Awarded eight blocks in NELP-VI, out of which our Company is operator in six blocks

2006 Entered into a joint venture agreement with GAIL, NRL and the Government of Assam to
establish a gas-based cracker project at Lepetkata, Assam

2007 Entered into a memorandum of understanding with British Gas for pursuing exploration and
production opportunities

2007 Entered into a memorandum of understanding with HPCL, GAIL, Total France, SA,
and Mittal Energy Investment Private Limited for promoting a refinery-cum-petrochemical
complex in Vizag

2007 Entered into a memorandum of understanding with HPCL to jointly pursue oil and gas
opportunities in the downstream and upstream segment in India as well as overseas

Awards and Recognitions

We have received the following awards and recognitions for achieving and maintaining high
standards in various aspects of our business.

Year Certification/ Award

1997 Grant of Mini Ratna-I status

2002 Golden Peacock award for corporate social responsibility, awarded by the
Federation of Indian Chambers of Commerce and Industry

2003 Award for excellent safety performance, awarded by the Oil Industry Safety
Directorate

2005 Annual award for environment excellence, awarded by Greentech

2005 Corporate social responsibility award, awarded by the Tata Energy Research Institute

2005 Award for best performance in energy conservation, awarded by Petroleum Conservation
Research Association

2006 Best public sector unit award in a survey of public enterprises conducted by the
Department of Public Enterprises, GoI

2007 Enterprise excellence award, awarded by the Indian Institute of Industrial Engineering

2007 SAP-ACE-2007 award for customer excellence in the best oil and gas sector
implementation category

Additionally, in recognition of our performance and our consistent achievement of targets
negotiated under the memorandum of understanding entered into with the MoPNG on an
annual basis, we have received the award for excellence in performance for the years
2003-2004, 2004-2005 and 2005-2006.

We were also ranked as the best public sector undertaking by the DPE in its annual survey
for fiscal 2006.

Quality Management System Standard Certifications

We have received the following certifications:

Year Certification/ Award

2003 Our Company certified to conform to Quality Management System ('QMS') Standard:
International Standardisation Organisation ('ISO') 9001:2000 from Det Norske
Veritas ('DNV') for 'production, storage and filling of LPG in cylinders and tankers
for distribution to marketing agency'. The certificate is valid until October 31, 2009

2004 Our pipeline department at Noomati, Guwahati certified to conform to QMS Standard:
ISO 9001:2000, Operational Health and Safety Standard ('OHSAS') 18001:1999
and ISO 14001:1996 from DNV for 'operations and maintenance of cross country
pipelines'. The certificates are valid until April 30, 2010

2005 Our LPG recovery and bottling plant was certified to conform to QMS Standard: OHSAS
18001:1999 and ISO 14001:2004 from DNV for 'recovery, storage, bottling and
despatch of LPG in bottles and road tankers'. The certificates are valid until May
13, 2008

2005 Our hospital at Duliajan, Assam was certified by Bureau Veritas Certification (formerly,
'BVQI') Standard; ISO 9001:2000. The certificate is valid until October 5, 2008

2005 Our gas turbine power station at Duliajan, Assam was certified by BVQI Standard;
OHSAS 18001:1999. The certificate is valid until March 8, 2008

2005 Our chemical laboratory at Duliajan, Assam was certified by BVQI Standard: ISO
9001:2000. The certificate is valid until November 19, 2008

2005 Our Tengakhat Oil Collecting Station at Duliajan, Assam was certified to conform
to QMS Standard: OHSAS 18001:1999 from DNV for 'receipt, processing, storage
and despatch of crude oil'. The certificate is valid until May 13, 2008

2007 Our Research and Development Department is accredited by the National
Accreditation Board for Testing and Calibration Laboratories, India in accordance
with the standard 'ISO/IEC 17025:2005' for 'general requirements for the
competence of testing and calibration laboratories' in the field of chemical testing.
The certificate is valid until April 4, 2009

2007 Our Fire Service at Moran was certified to conform to the Quality Management
System Standard: ISO 9001:2000, ISO 14001:2004 and ISO 18001:1999 from DNV
for 'operation and maintenance of fire service'. The certificates are valid until
February 6, 2010

2007 Our fire service at Duliajan was certified to conform to QMS Standard: ISO 9001:2000,
ISO 14001:2004 and OHSAS 18001:1999 from DNV for 'operation and maintenance
of fire service'. The certificates are valid until February 6, 2010

2008 Our hospital at Duliajan, Assam was certified by BVQI Standard OHSAS 18001:2007.
The certificate is valid until August 25, 2011

Our hospital at Duliajan, Assam was certified by Bureau Veritas Certification (formerly,
'BVQI') Standard ISO 9001:2000, ISO 14001:2004. The certificate is valid until August 25,
2011
 
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