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.
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 March 2018:
Sl.No. | Block No. | Date of Execution | Company's Participating Interest(%) | Other Partners | Participating Interest(%) | Operator |
1 |
Kharsang PSC |
16.06.1995 |
40 |
JEPL Geo Petrol Geo-Enpro |
25 25 10 |
Geo-Enpro |
2 |
AAP-ON-94/1 |
30.06.1998 |
44.086 |
IOCL HOEC |
29.032 26.882 |
HOEC |
Sl.No. | Block No. | Date of Execution | Company's Participating Interest(%) | Other Partners | Participating Interest(%) | Operator |
1 |
MZ-ONN-2004/1 |
02.03.2007 |
85 |
Shiv-Vani |
15 |
OIL |
2 |
RJ-ONN-2004/2 |
02.03.2007 |
75 |
GGR |
25 |
OIL |
3 |
KG-ONN-2004/1 |
02.03.2007 |
90 |
GGR |
10 |
OIL |
4 |
AA-ONN-2010/2 |
28.03.2012 |
50 |
ONGCL GAIL |
30 20 |
OIL |
5 |
AA-ONN-2010/3 |
28.03.2012 |
40 |
ONGCL BPRL |
40 20 |
OIL |
Sl.No. | Block No. | Date of Execution | Company's Participating Interest(%) | Other Partners | Participating Interest(%) | Operator |
1 |
WB-ONN-2005/4 |
22.12.2008 |
25 |
ONGCL |
75 |
ONGCL |
2 |
GK-OSN-2010/1 |
28.03.2012 |
30 |
ONGCL GAIL |
60 10 |
ONGCL |
Sl.No. | Block No. | Date of Execution | Company's Participating Interest(%) | Other Partners | Participating Interest(%) | Operator |
1 |
AA/ONDSF/KHEREM2016 |
RSC signed on 27.03.2017 PML A/F |
40 |
HOEC PPCL |
40 20 |
HOEC |