By: Vinod Kumar
Oil India Limited (OIL), India’s oldest oil and gas exploration and production company, is hosting its first-ever global partner roadshow, “Confluence: Where Energy and Opportunity Converge,” in Abu Dhabi, UAE on February 28th, 2024.
This event marks a significant step for OIL as it seeks to achieve ambitious growth and expand its international presence. The company has set ambitious production targets of 4 million metric tonnes of oil and 5 billion cubic meters of gas annually by 2026, alongside a revenue target of $12 billion by 2030. To achieve these goals, OIL plans to invest $4.8 billion in various activities, including increased exploration efforts, improved field development, and accelerated production. Additionally, the company aims to aggressively expand its operations in offshore Indian regions.
The roadshow will be a platform for OIL to showcase its detailed procurement strategies for the next five years, fostering collaboration with potential partners in the energy services industry. The event aims to streamline the partner onboarding process and strengthen relationships with companies to explore new business opportunities. Over 50 leading companies from the energy sector are expected to attend. The focus will be on promoting innovation, sustainability, and strategic alliances, with OIL aiming to set new industry standards through collaborative efforts on a global scale.
