Subsidiaries / Joint ventures / Associate Companies

OIIPL, a Singapore based wholly owned subsidiary of the Company, holds 33.5% stake each in Vankor India Pte. Ltd (VIPL), Singapore and Taas India Pte. Ltd. (TIPL), Singapore which in turn hold 23.9% and 29.9% in Russian entities namely, JSC Vankorneft and LLC TYNGD respectively.

Oil India Sweden AB is a wholly owned subsidiary of the Company. It holds 50% shareholding in IndOil Netherlands BV, Netherlands which holds 7.0% Participating Interest (PI) in the Venezuelan Asset namely PetroCarababo S.A.

OIIBV, Netherlands is a wholly owned subsidiary of the Company. OIIBV holds 50% stake in WorldAce Investments Limited, Cyprus which held 100% stake in Stimul T, a Russian legal entity. Stimul -T has filed for bankruptcy on 10th May 2023 due to adverse operational and financial circumstances.

The Company held 76% of the share capital of Oil India Cyprus Ltd. The balance 24% was held by Oil India Sweden AB. This Company was primarily formed for funding loan by OIL in the Venezuelan Asset, namely PetroCarababo S.A. The Company has been wound up and struck off from the official registry in Cyprus on 23rd September 2022.

Oil India (USA), Inc. was a wholly owned subsidiary of the Company. It held 20% stake in Niobrara shale oil and gas asset in USA. On 14th January, 2022 the entire stake of Oil India (USA), Inc. in the shale asset has been divested. Subsequent to the divestment, on 2nd May, 2023, the subsidiary company was wound up after compliance of applicable US laws.

BCPL owns a Petrochemical Complex at Lepetkata, Dibrugarh, Assam for production, distribution and marketing of petrochemical products. The Company holds 10% equity share capital in BCPL. GAIL (India) Limited, Government of Assam and Numaligarh Refinery Limited hold 70%, 10% and 10% equity share capital respectively.

DNP Ltd. was incorporated with the main objective of acquisition, transportation and distribution of natural gas. The Company holds 23% equity share capital of DNP Ltd. Assam Gas Company Limited and Numaligarh Refinery Limited hold 51% and 26% equity share capital respectively.

The Company is holding 48.80%, Government of Assam along with its owned entities is holding 51.11% and others are holding 0.09% of equity shares of APL. Assam Petro- Chemicals Limited commissioned a 500 TPD Methanol plant on 14th April, 2023. It is also implementing a 200 TPD Formaldehyde project. The Formaldehyde project is planned to be commissioned in the beginning of the year 2024.

IGGL formed by five petroleum sector PSUs viz. OIL, ONGC, IOCL, GAIL and NRL (holding 20% each) is implementing North-East Gas Grid Pipeline to improve gas supply connectivity to all the eight North Eastern States of India.

HPOIL was incorporated on 30th November, 2018 with equal equity participation from OIL and HPCL to develop CGD Networks in Ambala-Kurukshetra and Kolhapur Geographical Areas (GAs). Project implementation work is in progress. As at the end of March, 2023, HPOIL is operating 18 CNG stations & 13298 PNG connections at Ambala- Kurukshetra and 22 CNG stations & 19554 PNG connections at Kolhapur.

PBGPL was incorporated on 19th November, 2019 with equity participation of 26% each from OIL and GAIL Gas Limited and 48% from Assam Gas Company Limited. PBGPL has been formed for development of CGD network in Kamrup-Kamrup Metropolitan Districts and Cachar, Hailakandi and Karimganj Districts of Assam. PBGPL has started domestic pipe natural gas supply in Cachar, Hailakandi and Karimganj Geographical Area (GA). It is also operating 01 CNG station at Guwahati.

The Company holds 25% stake in Suntera Nigeria 205 Ltd., Nigeria pursuant to a Share Purchase Agreement (SPA) signed with Suntera Resources Ltd., Cyprus and Indian Oil Corporation Limited (IOCL) on August 31, 2006. Suntera Nigeria 205 Ltd. was incorporated with the objective to engage in the petroleum business including exploration production and development of crude oil and natural gas in Nigeria.

The Company holds 40% share in BREML. BREML holds 10% Participating Interest in the Rovuma Area 1 Offshore Block in Mozambique. BREML was incorporated in British Virgin Islands but has been redomiciled to Mauritius on 23rd January 2018.

The Company through its wholly owned subsidiary Oil India Sweden AB, owns 50% of the shares in Indoil Netherlands B.V which in turn holds 7% equity shares in Petrocarabobo S.A. (joint venture Company) for Project Carabobo-1, Venezuela.

The Company through its wholly owned subsidiary Oil India International B.V (OIIBV) holds 50% share in WorldAce Investments Ltd, a Company incorporated in Cyprus. WorldAce Investments Ltd. holds 100% share in LLC Stimul-T, Russia. Stimul -T has filed for bankruptcy on 10th May 2023 due to adverse operational and financial circumstances.

The Company through its wholly owned subsidiary Oil India International Pte. Ltd (OIIPL) holds 33.5% share in VIPL, a Company incorporated in Singapore on 20th May, 2016. VIPL holds 23.9% share in JSC Vankorneft, Russia which holds two producing licenses in Eastern Siberia, Russia.

The Company through its wholly owned subsidiary Oil India International Pte. Ltd. (OIIPL) holds 33.5% share in TIPL, a Company incorporated in Singapore on 23rd May, 2016. TIPL holds 29.9% shares in LLC “TYNGD”, Russia which holds two producing licenses in Eastern Siberia, Russia.