Oil India Limited, the nation’s oldest exploration and production company, is set to host its inaugural global partner roadshow on February 28 in Abu Dhabi, UAE.
Themed “Confluence: Where Energy and Opportunity Converge,” the event is expected to draw more than 50 leading companies from the energy services sector.
With ambitious annual production targets of 4 MMT oil and 5 BCM gas by FY26, along with a revenue goal of $12 billion by 2030, the company has laid out plans to invest $4.8 billion across various activities. These include scaling up exploration efforts, improving field development, and accelerating production. Additionally, OIL is gearing up for significant expansion in offshore Indian regions.
The roadshow will serve as a vital platform to showcase OIL’s procurement strategies, offering partners an opportunity to engage, collaborate, and streamline the onboarding process.
Oil India Limited was elevated to the esteemed status of Maharatna by the Indian government, following a recommendation from the Finance Ministry. This places Oil India Limited among the elite group of 13 Maharatna Central Public Sector Enterprises (CPSEs).
As a Maharatna company, Oil India Limited gains significant financial autonomy, allowing it to incur capital expenditure on the purchase of new items or replacements without any monetary ceiling. Additionally, Maharatna CPSEs are expected to operate independently, without relying on budgetary support or government guarantees, thereby enabling greater flexibility and efficiency in their operations.