COMPANY HISTORY OIL INDIA LTD.

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 E uity
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

1997 Grant of Mini Ratna-I status

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

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 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 Upgrading of our Company to a schedule A company

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

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

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

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

Annual award for environment excellence, awarded by Greentech

Corporate social responsibility award, awarded by the Tata Energy Research Institute Award for best performance in
energy conservation, awarded by Petroleum ConservationResearch Association

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

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

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

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

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
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

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

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

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

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

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

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

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

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

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

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

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

2009

-Oil India makes significant oil discovery in India

-Oil India IPO opens for subscription

-Listing of equity shares of Oil India Ltd

2010

-OIL granted Navratna status

-Oil India has been producing 10,000 tons of oil a day

-Oil India Limited with other Indian Oil PSUs sign JV agreement for $20 billion Carabobo-1 Project in Venezuela

2011

-Oil India signs biofuels R&D pact with Energy and Resources Institute

-OIL donates Rs 50 lakh to CMs Relief Fund

2012

-Adani group, Oil India ink agreements to bid BG group in Gujarat Gas Co Ltd (GGCL).

-OIL achieves highest production oil, natural gas

-Oil India bags E&P Company Award for 2010-11

-Oil honoured with "Performance Excellence Award 2011(Organisation)" by IIIE

-OIL bagged the most prestigious Oil Industry Safety Directorate

-OIL and IOC jointly acquire 30% stake in Carrizo's Niobrara shale assets in Colorado, USA Award.

- Oil India has given the Bonus in the Ratio of 3:2

2013

-OIL plans to spend Rs 12,000 cr in North East for business expansion, diversification.

- Oil India Ltd. (OIL) has expanded its presence in the renewable energy sector with successful commissioning of 54
MW wind turbine power plant in Rajasthan.

-OIL declares final dividend of 70%.

2014 -Oil India Ltd recommended Final Dividend @ Rs. 0.50 per share (i.e. 5%) to shareholders. -MOU between Oil
India Limited (OIL) and Zarubezhneft.

2015 -Oil India Ltd has commissioned a 54 MW wind energy project in the states of Gujarat and Madhya Pradesh
-Oil India Ltd has got environment clearance for drilling 20 wells in three blocks in Jaisalmer, Rajasthan for
production of 1 mmscmd gas at an estimated cost of Rs 96 crore -Oil India Limited signs a Memorandum of
Understanding with Rosneft for cooperation in Russia

Profile
The 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.

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. 601.14 Crores. At present, The Government of India, the
Promoter of the Company is holding 67.64% of the total Issued & Paid-up Capital of the
Company. The balance 32.36% of the Equity capital is held by Public and others including
Bodies Corporate, Mutual Funds, Banks, FIIs, Resident Individuals etc.

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, OILs 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.

Vision
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.
JVs/ PSCs/ALLIANCES

Keeping in perspective the Indian Government's liberalisation policy and the dismantling of the
Administered Pricing Mechanism, OIL expanded its business activities both within and outside
the country, adding hydrocarbon related ventures like gas based power generation to its portfolio.

DOMESTIC

In the E&P sector, in India, OIL has signed Production Sharing Contracts (PSCs) with private
companies like Essar Oil, Hindustan Oil Exploration Company (HOEC), Geo Global Resources
(GGR), Geo-Enpro Petroleum, Hindustan Mittal Energy Ltd (HMEL), Geo-Petrol International
Inc., Shiv Vani, Assam Company India Ltd (ACIL) and Reliance Industries (RIL). Besides
bidding on its own, OIL has joined ONGC, GAIL, BPRL, HPCL, NTPC, BGEPIL, APGIC,
GSPCL and IOC in acquiring exploration blocks offered under New Exploration Licensing
Policy (NELP) of the Government of India.

The list of PSCs, their locations and partners where OIL has participating interest or
Operatorship as of July 2014:

JOINT VENTURES (as on July 2014):

Sl.No. Block No. Date of Company's Other Partners Participating Operator
Execution Participating Interest(%)
Interest(%)
1 Kharsang 16.06.1995 40 JEPL 25 Geo-
PSC Geo Petrol 25 Enpro
Geo-Enpro 10
2 AAP-ON- 30.06.1998 16.129% in Expl. IOCL 43.548 HOEC
94/1 Phase HOEC 40.323
Addl. 30% carried
interest

OIL AS OPERATOR (as on July 2014):

Sl.No. Block No. Date of Company's Other Partners Participating Operator
Execution Participating Interest(%)
Interest(%)
1 AA-ONN- 06.02.2004 30 ONGCL 70 OIL
2002/3
2 MZ-ONN- 02.03.2007 85 Shiv-Vani 15 OIL
2004/1
3 AA-ONN- 02.03.2007 100 - - OIL
2004/2
4 RJ-ONN- 02.03.2007 100 - - OIL
2004/2
5 KG-ONN- 02.03.2007 100 - - OIL
2004/1
6 RJ-ONN- 22.12.2008 60 HMEL 20 OIL
2005/2 HOEC 20
7 CY-OSN- 30.06.2010 50 ONGCL 50 OIL
2009/2
8 AA-ONN- 30.06.2010 50 ONGCL 50 OIL
2009/4
9 AA-ONN- 28.03.2012 40 ONGCL 30 OIL
2010/2 GAIL 20
EWP 10
10 AA-ONN- 28.03.2012 40 ONGCL 40 OIL
2010/3 BPRL 20
11 MB-OSN- 30.08.2012 50 BPRL 20 OIL
2010/2 HPCL 30

OIL AS JOINT OPERATOR (as on July 2014):

Sl.No. Block No. Date of Company's Other Partners Participating Operator
Execution Participating Interest(%)
Interest(%)
1 AN-DWN- 30.06.2010 40 ONGCL 60 ONGCL
2009/3 (O)
OIL (JO)
OIL AS NON OPERATOR (as on July 2014):
Sl.No. Block No. Date of Company's Other Partners Participating Operator
Execution Participating Interest(%)
Interest(%)
1 MN-OSN- 17.07.2001 20 ONGCL 40 ONGCL
2000/2 GAIL 20
IOCL 20
2 AA-ONN- 04.02.2003 15 ONGCL 85 ONGCL
2001/3
3 AA-ONN- 06.02.2004 10 ONGCL 90 ONGCL
2002/4
4 KG-DWN- 02.03.2007 10 ONGCL 50 ONGCL
2004/5 GAIL 10
GSPCL 10
HPCL 10
BPRL 10
5 KG-DWN- 02.03.2007 10 ONGCL 34 ONGCL
2004/6 INPEX 26
GAIL 10
GSPCL 10
HPCL 10
6 WB-ONN- 22.12.2008 25 ONGCL 75 ONGCL
2005/4
7 KG-OSN- 30.06.2010 30 ONGCL 50 ONGCL
2009/4 NTPC 10
APGIC 10
8 KG-DWN- 30.06.2010 15 BGEPIL 30 BGEPIL
2009/1 ONGCL 45
APGIC 10
9 AN-DWN- 30.06.2010 40 ONGCL 60 ONGCL
2009/2
10 AA-ONN- 30.06.2010 50 ONGCL 50 ONGCL
2009/3
 11 AA- 22.12.2 30 ONGCL 60 ONGC
ONN- 008 ACIL 10 L
2005/1
12 AN- 30.06.2 30 ONGCL 70 ONGC
DWN- 010 L
2009/1
13 AN- 30.06.2 30 ONGCL 60 ONGC
DWN- 010 GAIL 10 L
2009/18
14 AN- 22.12.2 10 ONGCL 90 ONGC
DWN- 008 L
2005/1
15 GK- 28.03.2 30 ONGCL 60 ONGC
OSN- 012 GAIL 10 L
2010/1

Contract For Exploration & Production of Coal Bed Methane (as on July 2014):
Sl.No. Block No. Date of Company's Other Partners Participating Operator
Execution Participating Interest(%)
Interest(%)
1 AS-CBM- 29.07.2010 90 DART Energy (AS) 10 DART
2008/IV PTe Limited

Alliances
Acquisition of overseas exploration blocks and oil & gas properties is a strategic focus area of
OIL. To facilitate this strategy, the Government of India extended the mechanism of Empowered
Committee of Secretaries (ECS) for quick clearance of overseas proposals of OIL in consortium
with IOC and other Public Sector Companies in December 2005.

OIL is actively pursuing opportunities to acquire producing E&P assets, exploration acreages,
etc. in Africa, Middle East, South East Asia, South America, CIS countries and Russia, and is
willing to associate with reputed companies to jointly fulfill this objective. In India, OIL
 welcomes joint venture opportunities in gas-based industries including the power sector and
trunk pipeline ventures.

OIL provided E&P consultancy for the first time since its inception to M/s Morris Petroleum,
incorporated in Nigeria, towards evaluation and submission of bids for development of marginal
fields offered by the Government of Nigeria through the Nigerian Petroleum Company.

OVERSEAS

LIBYA

Area 95/96 - Onshore Libya:

Location: Ghadames Basin
This area is located in the Ghadames basin in Area: 6934 sq km
the Southwestern part of Libya.
Consortium Partners
In EPSA, Bid Round IV, 2007, the Consortium
of M/s SIPEX, OIL and IOC won this oil-prolific SIPEX - 50%
onshore block. (Operator)

The PSC has been signed on May 25, 2008 OIL - 25%

Current Status IOCL - 25%

2D Seismic (2652 GLKM) and 3D (2891 Sq. Past Exploration Activity

Km) survey and Interpretation of data completed.
2D Seismic of 1984-1996 vintage and 06 wells
Total 5 wells drilled and discovered both oil and
gas Work Commitment

o 1st well: Oil Discovery Exploration Phase August 2015

o 2nd well: Good gas shows 2D - 2000 lkm

o 3rd well: Gas Discovery 3D - 2600 Sq. Km.

o 4th well: Oil & gas Discovery Wells : 08 Nos

o 5th well: Gas Discovery

 All operations suspended since 19.05.2014 due
to hostile law & order situation

GABON

Block SHAKTHI, Onshore Gabon, West Africa:

Location: Interior Basin

The block is located in the less explored interior Area: 3761 sq.km
basin towards the north-eastern part of this geo-
politically stable, oil-rich country. Consortium Partners

The block is adjacent to the Panocean Energy- OIL -50%

operated producing Remboue oil field (Block ET (Operator)
2000).
IOCL- 50%
Current Status
Past Exploration
Drilled 3 wells and discovered oil and gas in 3rd Activity
well
Aero gravity, magnetic, 2D Seismic and wells
Locations for two appraisal wells released
Work Commitment
Drilling of 1st appraisal well completed
Phase-I: 2 Appraisal Wells and 1200 GLKM
Drilling of 2nd appraisal well is in progress closed grid 2D Seismic API

Phase-II: 1 Appraisal Well and 1 Exploratory

Well

Phase-III: 1 Exploratory Well

NIGERIA

OML 142, Onshore Nigeria

 Location: Niger Delta-Anambra basin
OIL farmed into JV M/s Suntera Nigeria Area: 1295 sq km
205 who acquired this onland block operated
by M/s Summit Oil, Nigeria in 2005 Working and
Economic Interest
M/s Summit Oil assigned 40% PI and
30% Economic Interest to JV - M/s Suntera M/s Summit Oil
Nigeria 205 Ltd. International. Ltd.
30%
Block license has been converted from
OPL 205 to OML142 for development of old M/s Suntera
gas /condensate discovery Formal award Nigeria 205 JV -
from Nigerian Government received. 70%
[Suntera Resources 50% (Operator)
3D seismic data acquisition completed. (effective 35% PI)]
Processing to commence. [OIL - 25% (17.5% effective PI)]
[IOC - 25 % (17.5% effective PI)]

YEMEN

Block 82, Onshore Yemen

Location: Messila Basin

The block is located in the southwestern Area: 1853 sq km
flank part of Messila Basin and southern part
of Mukalla high of Yemen onshore. Consortium Partners

Consortium was awarded the block in MEDCO -

Third Yemen International Bid Round-2006. 38.25% (Operator)

Seismic API in progress. Kuwait Energy

21.25%

YOGC - 15%
(Carried Interest)

OIL - 12.75%

IOC 12.75%

VENEZUELA

Project 1, Carabobo, Venezuela

 Location: Maturin Sub-basin (East Venezuela)
Consortium has been awarded two development Area: 383.12 sq.km
blocks (C1 Central & North) located in Carabobo area of
Orinoco Heavy Oil Belt, Venezuela. Consortium Partners
Mixed Company (Operator)
The project involves exploitation of the extra heavy
crude, setting up of up-grader and marketing the product. PDVSA - 71%

Mixed Company Contract signed on 12th May 2010 OIL - 3.5%

at Caracas.
IOCL - 3.5%
Drilling activities have commenced and are currently
ongoing. OVL - 11%

Early accelerated production commenced. Repsol - 11%

USA

Niobrara Shale Asset

Location: Onshore Colorado, USA
OIL acquired a 20% working interest in the liquid Area: 248.88 sq km
rich shale asset in the Denver-Julesburg Basin from Carrizo
Oil & Gas, Inc. in October 2012. Consortium Partners

Current production from the acreage to net to OIL is Carrizo Oil & Gas,
approx 1000 BOE/D Inc. - 60% (Operator)

OIL - 20%

IOCL - 10%

Haimo Oil & Gas 10%

MOZAMBIQUE

Area Rovuma 1 Offshore

 Location: Offshore, Mozambique
OIL acquired a 4% participating interest in the natural Area: 9,653 sq km
gas rich (45-75 Tcf) asset January, 2014.
Consortium
Tentative timeline for first LNG production is 2018. Partners

Anadarko:
36.5% (Operator)

BPRL:
10%

PTTEP:
8.5%

Mitsui:
20%

BREML (Beas Rovuma Energy Mozambique

Limited) (JV of OVL 60% and OIL 40%): 10%

ENH: 15% (Carried Interest )

BANGLADESH

Block SS-04
Location: Shallow Water Offshore, Bangladesh
OIL signed the Production Sharing Contract on 17th Area: 7,269 sq km
February, 2014.
Consortium Partners

OVL: 45%
(Operator)

OIL: 45%

BAPEX: 10%
(Carried Interest)

Block SS-09
 Location: Shallow Water Offshore, Bangladesh
OIL signed the Production Sharing Contract on 17th Area: 7,026 sq km
February, 2014.
Consortium Partners

OVL: 45%
(Operator)

OIL: 45%

BAPEX: 10%
(Carried Interest)

MYANMAR

Block M-4
Location: Shallow Water Offshore, Myanmar
OIL awarded the Block in March, 2014 Area: 10,421 sq km

PSC to be signed Consortium Partners

OIL: 60% (Operator)

Mercator Petroleum:
25%

Oilmax Energy :
10%

Oilstar: 5 % (Carried
Interest)

Block YEB
 Location: Shallow Water Offshore, Myanmar
Block awarded to OIL in March, 2014 Area: 21,380 sq km

PSC to be signed Consortium Partners

OIL: 60% (Operator)

Mercator Petroleum:
25%

Oilmax Energy :
10%

Oilstar: 5 % (Carried
Interest)

RUSSIA

License 61
Location: Onshore Russia
OIL acquired a 50% participating interest in the oil Area: 4,991 Sq Km
producing block with effect from 1st, January, 2014.
Consortium
Current Production share net to OIL is 1050 BOPD Partners

OIL: 50%

Petroneft
Resources Plc
(Operators)

Product Pipeline, Sudan

Pipeline length: 741 Km.
Contract for execution of Product Pipeline from Al
Rawyan to Port Sudan on Build, Operate, Lease and Consortium
Transfer Basis Partners

Completion Target Date: 30th October 2005 OVL -

90%
Project Completed: August 2005
OIL - 10%
Pipeline commissioned by Govt. of Sudan: 14th
October 2005
HERITAGE

The story of oil exploration in India began in the dense jungles and swamps of Assam in the 19th century. United by geography
with Burma and caught up in the cross-currents of history, the region had the common blessing of commercial oil.

Digboi Well No-1(1889-1890)

The well, started in September 1889, was completed in November 1890 as a producer at a total depth of 662 ft, with an initial
production of 200 gallons per day. The decision to drill was taken by the Directors of the AR&T Co. in 1888 under the direction
of Mr. W L Lake, an employee of the company and an oil enthusiast.

Uphill and Downhill (1890 1920)

After the successful completion of the first well, Digboi Well No-2 was started in February 1891 in the same area, only to be
abandoned as dry at 720 ft. The drilling activities of AR&T progressed satisfactorily with 11 wells yielding oil in 1894. A new
firm - the Assam Oil Company (AOC), led by the same Chairman, Lord Ribblesdale - was promoted in 1899 to take over the
petroleum interests of AR&T, including the Digboi and Makum concessions.

The AOC inherited 14 producing wells, with a total production of 50 barrels of oil per day. Almost immediately on inception, the
company expanded the concessional area of the field by purchasing the rights of the Assam Oil Syndicate. In 1912 the rotary
system was introduced, Well 47 being the first well to be drilled by this method.

Production almost trebled from 43 bpd in 1901 to 120 bpd in 1902, rising steadily to 247 bpd in 1911, and reaching a maximum
of 435 bpd in 1917. By 1920, the AOC had completed 80 wells with a total average production of 350 bpd.

Aftermath of Success (1953 1959)

The Nahorkatiya oilfield was discovered in 1953. However, by 1956 only 16 wells had been drilled, and evidence suggested
subsurface faults which could have acted either as barriers or conduits to oil movement. Despite this meagre evidence, the AOC
announced in September 1956 that proved and probable reserves in the Nahorkatiya area were sufficient to plan a production
target of nearly 2.5 million tons of oil per year with 45 million cubic feet of gas per day. On the basis of this assurance, fortified
later in the year by new discoveries at Hugrijan and Moran, a public sector refinery was initiated in 1959 at Guwahati with help
from Romania. It was commissioned in 1962.

The success of Nahorkatiya Well No-1 set in motion a series of activities. The Burma Oil Company signed a Promotion
Agreement with the Government of India (GoI) in January 1958 to form a company - Oil India Private Limited (OIL) - to take
over the management of the AOC-discovered fields of Nahorkatiya and Moran. OIL was incorporated on 18 February 1959, with
two-thirds of the shares held by BOC and the rest by GOI. The Agreement assured Burmah Oil a dividend of 10% and Digboi
Refinery 1.3 million barrels of oil per year. Mr W P G Maclachlan, a key player in the negotiation, became the first Chairman of
OIL.

Growth, dynamism, adaptability and technological awareness have marked the activities of OIL from 1959 till today.

ACHIEVEMENTS
Oil India Limited bags the 'Best Company in CSR & Sustainability Award' at the India Today PSUs Awards, 2015

Oil India Limited was awarded the 'Best Company in CSR & Sustainability' Award, in the Navratna segment, in the glittering
India Today PSUs Awards, 2015 ceremony at New Delhi on 14th December, 2015.

Sri P.K. Sharma, Director (Operations), Oil India Limited, received the award on behalf of the Company from Sri Ravi Shankar
Prasad, Union Minister for Communications and Information Technology, Govt. of India, in the esteemed presence of Sri Piyush
Goyal, Minister of State (Independent Charge) for Power, Coal and New & Renewable Energy, Govt. of India, Sri Aroon Purie,
Editor-in-Chief of India Today and the Chairman of the India Today Group and Sri Raj Chengappa, Group Editorial Director
(Publishing), India Today.
 Sri P.K. Sharma, Director (Operations), Oil India Limited, receiving the award for the Best PSU in CSR &
Sustainability, in the Navratna segment, in the India Today PSUs Awards, 2015 Ceremony, held at New Delhi on 14th
December, 2015

The India Today Group PSUs survey, in association with Marketing and Development Research Associates (MDRA),
a premier research organisation, attempted to recognise the contribution of the PSUs towards nation-building. The
survey evaluated the PSUs across four segments - Maharatna, Navaratna, Miniratna and other PSUs - under eight
different categories.

OIL INDIA LIMITED ranked 222nd in the Platts Top 250 Global Energy Company Rankings for 2015

Oil India Limited (OIL) has been named, for the second consecutive year, in the (13th) annual Platts Top 250 Global
Energy Company Rankings for 2015, at a glittering award ceremony held at the Fullerton Hotel, Singapore, on the
evening of 27th October, 2015.

OIL has been conferred a ranking of #222 on overall global performance, for distinguishing itself through its
outstanding financial and industry performance over the past year. Also, OIL has been ranked 68th in the Asia
Companies in the 2015 Platts Top 250 Global Energy Company Rankings.
 Mrs Rupshikha Borah, Director(Finance), Oil India Limited, receiving the award at the 13th annual Platts Top 250
Global Energy Company Rankings for 2015 award ceremony, held at the Fullerton Hotel in Singapore, on the
evening of 27th October, 2015

About the Awarding Agency: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals
and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts'
news, pricing, analytics, commentary and conferences help customers make better-informed trading and business
decisions and help the markets operate with greater transparency and efficiency. Since 2002, Platts has ranked
energy companies financial performance globally, regionally and by industry sector. Platts rankings are based on
four key metrics- asset worth, revenues, profits, and return on invested capital. All companies on the list are publicly
held and have assets greater than US $5billion. Information comes from a database compiled and maintained by
S&P Capital IQ, a business unit of McGraw Hill Financial.

Oil India Limited wins the 2nd Pt. Madan Mohan Malaviya Silver Award for Best CSR Practices in Education,
2015

Oil India Limited (OIL) was conferred the 2nd Pt. Madan Mohan Malaviya Silver Award for Best CSR Practices in
Education, 2015, in the prize distribution ceremony held at the India Habitat Centre, New Delhi on 10th September,
2015.

The 2nd Pt. Madan Mohan Malaviya Awards for Best CSR Practices in Education along with Indian Achievers
Awards were presented by Mrs. Sheila Dixit, Ex- Chief Minister of Delhi, Mr. P.P. Mohd. Faisal, Honble Member of
Parliament and H. E. Mr. Felix Ngoma, Ambasador of The Republic of Congo in India.

Oil India Limited was awarded in recognition of its innovative CSR initiative: The Mobile Computer Lab (Bus), under
its Project OIL Dikhya, in which school children from remote villages of OIL operational areas in Upper Assam are
provided free of cost computer education through a state-of-art Computer Bus (with two computer teachers on-
board), which travels to their school and functions as a Mobile Computer Lab for facilitating computer learning of the
students.
 Sri Dilip Kumar Das (Head- Public Relations, OIL) along with the OIL team receiving the 2nd Pt. Madan Mohan
Malaviya Silver Award for Best CSR Practices in Education, 2015 from Mrs. Sheila Dixit, Ex- Chief Minister of Delhi
and H. E. Mr. Felix Ngoma, Ambassador, The Republic of Congo in India

Oil India Limited wins the Oil Industry Safety Award- for the year 2013-14

Oil India Limited (OIL) was conferred the Oil Industry Safety Award for Best Near Miss Incidents Reporting,
Production Operation- Onshore/Offshore for the year 2013-14, in the glittering awards ceremony held at the SCOPE
Convention Centre, New Delhi, on 4th August, 2015.

Sri Dharmendra Pradhan, Honble Minister of State (I/C) for Petroleum & Natural Gas, presented the award to Sri
U.P. Singh, IAS, Additional Secretary, MoPNG and CMD, OIL and Sri P.K. Sharma, Director (Operations), OIL; in the
presence of Sri K.D. Tripathi, Secretary, MoPNG, among other dignitaries.

The prestigious award instituted by the Oil Industry Safety Directorate, was conferred to Oil India Limited for the
excellent performance of its Duliajan - Production Operation, in the Best Near Miss Incidents Reporting, Production
Operation- Onshore/Offshore category.

Sri U.P. Singh, IAS, Additional Secretary, MoPNG and CMD, OIL, receiving the Oil Industry Safety Award for Best
Near Miss Incidents Reporting, Production Operation- Onshore/Offshore for the year 2013-14, from Sri Sri
Dharmendra Pradhan, Honble Minister of State (I/C) for Petroleum & Natural Gas, along with Sri P.K. Sharma,
Director (Operations), OIL, in the presence of Sri K.D. Tripathi, Secretary, MoPNG.

G.K. Batta of Oil India Limited wins the Petrofed Innovator of the year award
Mr. Gnana Kumaraswamy Batta, a Senior Geophysicist with Oil India Limited (OIL) won the Petrofed Innovator of the
year award (Special Commendation in the Individual category) for his innovation on utilising low frequency seismic
data interpretation for locating subsurface oil & gas and reducing exploration risk; in the glittering Petrofed Awards
(2013-14) ceremony at the Hyatt Regency Hotel in New Delhi, on 15th July, 2015. The award to Mr. Batta was
presented by Sri Dharmendra Pradhan, Honble Minister of State (I/C) for Petroleum & Natural Gas, the Chief Guest
of the event, in the august presence of Sri K.D. Tripathi, Secretary, MoPNG, the Guest of Honour and Sri B. Ashok,
Chairman Petrofed and Chairman, IOCL, among other dignitaries present on the dais. Mr. Batta received the award
for coming up with a commercially successful innovation which is recognised for its originality, usefulness, value and
potential for replication.

Mr. G.K. Batta, receiving the Petrofed Innovator of the year award, 2013-14 (Individual: Special Commendation) from
Sri Dharmendra Pradhan, Honble Minister of State (I/C) for Petroleum & Natural Gas, in the presence of Sri B.
Ashok, Chairman Petrofed and Chairman, IOCL, at the Petrofed Awards (2013-14) ceremony, at the Hyatt Regency

Hotel in New Delhi on 15th July, 2015

Citation of the Award won by Mr. G.K. Batta
 Team Oil India led by Sri U.P. Singh, IAS, CMD-OIL and Sri B. Roy, Director (HR&BD)-OIL, with Sri Dharmendra
Pradhan, Hon'ble Minister of State (IC) P&NG, Sri K.D. Tripathi, Secretary, MoPNG and other dignitaries at the award
function

Oil India Limited wins the National Safety Award (Mines) for 2012

Oil India Limited (OIL) has won the National Safety Award (Mines), for the year 2012, in the category of Longest
Accident Free Period for the Engineering Oil Mines.

The Honble President of India, Sri Pranab Mukherjee presented the coveted award to Sri S.K. Srivastava, Chairman
& Managing Director, Oil India Limited, in the presence of Sri Bandaru Dattatreya, Union Minister of State for Labour
& Employment (Independent Charge), Govt. of India, at the glittering award ceremony held in Vigyan Bhawan, New
Delhi, on 20th March, 2015.

Sri S.K. Srivastava, CMD, OIL, receiving the National Safety Award (Mines), 2012 from Sri Pranab Mukherjee,
Hon'ble President of India

Moodys & Fitch reaffirm Oil India Limiteds Credit Ratings

Oil India Limited (OIL) has been rated by M/s Moodys Investor Service as Baa2 (Stable) and Fitch Ratings as BBB-
(Stable).
In the current year, both the Credit Rating Agencies have reaffirmed the existing Issuer rating as well as senior
unsecured rating with the outlook as stable. Baa2 rating reflects the baseline credit assessment of Baa2, which is
one notch higher than the rating given by Moodys to the Government of India (Baa3 stable), whereas Fitch has rated
OIL at the same level as Indias.

The strong Government linkages, wherein the Government of India holds 67.64% of equity, the strong and consistent
financial and operational performance, changes in existing regulatory framework (including the subsidy and pricing
mechanism) and companys future plans have been the key rating drivers with both credit rating agencies.

OIL has historically maintained a conservative financial profile. OIL plans to fund its expansion activities with a mix of
operating cash flows and debt. This rating would help OIL to have access to international markets for raising of debt
in future.

Oil India Limited takes another leap towards Sustainability: Commissions 54 MW Commercial Wind Energy
Project in Gujarat & Madhya Pradesh

Oil India Limited (OIL) has completed another vital milestone in its quest to becoming a Sustainability driven Energy
Company, committed to exploring clean energy solutions for the nation. In doing so, OIL has successfully
commissioned its third commercial Wind Energy Project, viz. a 54 MW Project in the states of Gujarat and Madhya
Pradesh.

Out of the total capacity of 54 MW, the project is split between a 16 MW capacity operational site at Patan in Gujarat
and a 38 MW capacity operational site at Chandgarh in Madhya Pradesh. The Patan, Gujarat wing of the project was
commissioned on 26th March, 2015, while the Chandgarh, M.P. site was commissioned on 31st March, 2015. The
Project, fully funded by OIL, is being run by M/s Gamesa Wind Turbines Pvt. Ltd., Chennai, who are the Project
developers. The Project Management consultants are M/s Power & Energy Consultants, New Delhi. The total cost of
the project is Rs. 126.5 Crore for the Gujarat side and Rs. 312.45 Crore for the M.P. location.

With this, OILs present installed capacity under the Renewable Energy domain (Commercial Wind Energy and Solar
Energy projects) stands at an impressive 126.60 MW. .
 OILs Project sites of the 54 MW Wind Energy Project

Oil India Limited takes step towards sustainable energy solutions: 20 MW Gas Based Power Plant
inaugurated at Duliajan

Oil India Limited (OIL) achieved another milestone towards its goal of becoming a sustainability driven integrated
energy company. OIL has successfully completed the installation and commissioning of its 20 MW Gas Based Power
Plant at its Fields Headquarters in Duliajan, Assam.

The Gas Based Power Plant was inaugurated on 15th April 2015 at OILs Industrial area in Duliajan by Shri
Dharmendra Pradhan, Honble Minister of State (IC) for Petroleum & Natural Gas in presence of Shri Sarbananda
Sonowal, Honble Minister of State (IC) for Youth Affairs and Sports, Shri Rameshwar Teli, Honble Member of
Parliament, Shri Kamakhya Prasad Tasa, Honble Member of Parliament, Smti Amiya Gogoi, Honble MLA, Shri Dilip
Moran, Honble MLA, Shri Prasanta Phukan, Honble MLA, Shri. S.K. Srivastava (Chairman & Managing Director, Oil
India Limited), functional Directors of OIL and other senior officials of Oil India Limited.

Speaking on the occasion, Shri Dharmendra Pradhan, Honble Minister of State (IC) for Petroleum & Natural Gas
complimented and congratulated Oil India Limited for the achievement.

Shri Dharmendra Pradhan, Honble Minister of State (IC) for Petroleum & Natural Gas, GoI, inaugurating the 20 MW
Gas based Power Plant, in presence of Shri Sarbananda Sonowal, Honble Minister of State (IC) for Youth Affairs
and Sports, GoI, at Duliajan on 15th April, 2015
Shri Dharmendra Pradhan, Honble Minister of State (IC) for Petroleum & Natural Gas, GoI, addressing the media in
presence of Shri Sarbananda Sonowal, Honble Minister of State (IC) for Youth Affairs and Sports, GoI, and Sri S.K.
Srivastava, Chairman & Managing Director, Oil India Limited on the occasion
at Duliajan on 15th April, 2015

The 20 MW BHEL make gas turbine generator with state of the art technology was commissioned in July 2014 at
OILs Industrial area in Duliajan. This captive power plant will be a part of OILs Duliajan Power Station and will phase
out the old 2 nos. of Westinghouse make 14.45 MW each gas turbine generators commissioned in 1977. The power
from the new 20 MW gas turbine generator shall be utilized for requirement of OILs industrial loads such as those in
Gas Compressor Stations, Oil Collecting Stations, Water Injection Stations, LPG Plant, Crude Oil Pump Stations,
Water Supply, etc.

Oil India Limited takes another step in its quest towards harnessing renewable sources of energy: 5 MW
Solar Power Plant inaugurated at Raghwa Village, Ramgarh in Rajasthan

Oil India Limited (OIL) has achieved another milestone towards its goal of becoming a Sustainability driven integrated
energy company. OIL has successfully completed the installation and commissioning of its 5 MW Solar Power Plant
at Village Raghwa, Ramgarh, Rajasthan. The Solar Power Plant was officially inaugurated on 21.12.2014 by Shri.
S.K. Srivastava (Chairman & Managing Director, Oil India Limited), in the presence of Shri N.K. Bharali (Director-
HR&BD, Oil India Limited), Shri S. Rath (Director-Operations, Oil India Limited) and Shri S. Mahapatra (Director-
Exploration, Oil India Limited), along with other senior officials of OIL.
Shri. S.K. Srivastava (Chairman & Managing Director, Oil India Limited), inaugurating the 5 MW Solar Power Plant
at Village Raghwa, Ramgarh, Rajasthan on 21.12.2014, in presence of Shri N.K. Bharali (Director-HR&BD, Oil
India Limited), Shri S. Rath (Director-Operations, Oil India Limited) and Shri S. Mahapatra (Director- Exploration, Oil
India Limited), along with other senior officials of OIL

Speaking on the occasion, S.K. Srivastava (Chairman & Managing Director, Oil India Limited) expressed pride and
happiness on the occasion of inauguration of the 5 MW Solar Power Plant, calling it a major achievement for OIL. He
also applauded the great team effort of the personnel involved, as a result of which this state of art plant was
completed within 118 days. Shri N.K. Bharali (Director- HR&BD, Oil India Limited) mentioned about the tremendous
potential of Rajasthan in Solar and wind energy as well as OILs future plans for tapping the renewable energy for
betterment of the society and addressing the energy concerns of our country. Shri Bharali, also talked about OILs
upcoming project of 9 MW Solar Power Plant at the same site at Ramgarh, which will be completed by next year. Shri
S. Rath (Director- Operations, Oil India Limited) spoke about OILs commitment towards generation of more power
through renewable energy sources. Mentioning the energy security concerns of our country, Shri S. Mahapatra
(Director- Exploration, Oil India Limited) explained the importance of the renewable energy sources and the way
forward for harnessing the same.
The 5 MW Solar Power Plant at Raghwa, Ramgarh with the Polycrystalline Technology was setup at a total cost of
Rs. 41.49 crores with an O&M contract for 25 years for an amount of Rs. 20.63 Crores.
The plant consisting of 20408 solar modules each having a capacity of 245 watts, has been contributing towards the
growing energy needs of our country since its commissioning. An over head transmission line of 11.49 Kms has been
constructed to feed in the generated power to the DISCOM Grid.

Oil India Limited led consortium signs Production Sharing Contract with MOGE, Myanmar for two Offshore
Blocks in Myanmar

Oil India Limited, along with consortium partners signed Production Sharing Contract (PSC) with Myanma Oil & Gas
Enterprise (MOGE) for two (2) offshore blocks M4 and YEB on 4th Dec, 2014 in a signing Ceremony held at Nay Pyi
Taw, Myanmar.

OIL led consortium won these blocks under Myanmar offshore bidding round 2013 which was launched on April 11,
2013. In this Bidding Round, total 30 blocks were on offer (Shallow Water : 11, Deep Water : 19) and OIL's
consortium bided for three offshore blocks M-4, M-8 and YEB.
OIL is the operator with 60% PI in both the blocks. Other consortium partners are Mercator Petroleum Limited (25%
PI), Oilmax Energy Pvt. Limited (10% PI), and Oil Star Management Services Co. Ltd. (Local Company of Myanmar,
5% PI). Block M-4 with an area of 4008 Sq. Miles (Water Depth: Less than 600 ft) is located in Moattama Basin, while
other block YEB with an area 8223 Sq. Miles (Water Depth : Less than 600 ft) is located in Thanintharyi Basin.

Signing Ceremony was attended by several Ministers and Officials of Myanmar Government including Union
Ministers of Energy, Transport, Technology and Finance; Managing Director, MOGE; DG, Energy Planning
Department (EPD) and several heads of EPD and MOGE. From OIL side, Mr. P. K. Sharma, Group General Manager
(BD) signed the PSCs of both the blocks M-4 and YEB. From Indian Embassy in Myanmar, Mr. Sailas Thangal,
Deputy Chief of Mission attended the Signing Ceremony. .
Mr. P. K. Sharma, Group General Manager (BD), Oil India Limited with Mr. U MYO MYINT OO, Managing Director,
MOGE, Myanmar at the Production Sharing Contract (PSC) signing ceremony at Nay Pyi Taw, Myanmar

50 YEARS
OIL on the threshold of its 50th Year since inception in 1959

Its celebration time for Team OIL and the Companys stakeholders!

FLASHBACK:
By arrangement with the AR&T Co Ltd., the Burmah Oil Company (BOC) of UK, which was at that time operating in
Burma across the Patkai Hills, took over the operation of the Assam Oil Company in 1921. BOC/AOC continued
development of the Digboi oilfield and intensified exploration activities. In 1953, the first oil discovery of independent
India was made at Nahorkatiya, repeated at Moran in 1956.

Oil India Private Ltd. was incorporated on February 18, 1959 for the development and production of the discovered
prospects of Nahorkatiya and Moran and to increase the pace of exploration in Northeast India. It was registered as a
Rupee Company with two-third shares owned by AOC/BOC and one-third by the Government of India (GoI). Via a
subsequent agreement on July 27, 1961, GoI and BOC transformed OIL into a Joint Venture Company (JVC) with
equal partnership. OIL remained a JVC for over two decades.

On October 14, 1981 Oil India Limited (OIL) became a wholly-owned GoI enterprise by taking over BOCs 50%
equity, and the management of Digboi oilfield changed hands from the erstwhile AOC to OIL.

GOLDEN JUBILEE CELEBRATIONS A PERSPECTIVE

Essentially, OIL has celebrated two milestone years till date. First was the Silver Jubilee Year 1984, and second, a
hundred years of the discovery of crude oil in Digboi in 1989. The Digboi discovery was celebrated primarily because
OILs legacy has its roots in Asias first and the worlds second commercially successful oil exploration activity at
Digboi, Assam in 1889. The Silver Jubilee Year was celebrated in 1984 because on February 18, 1959, Oil India as a
Company (Oil India Private Limited) was born. Though the nature of ownership changed from the private sector to the
public sector, Oil India in essence retained its name and continued to carry out its core activity as an E&P company.

Today as the pioneering and second-largest national upstream Oil and Gas Company with a pan Indian presence and
growing global footprint, OIL is all set to conquer newer horizons of all-round growth and excellence.