New Delhi: Newly-minted Maharatna PSU Oil India Limited (OIL) has announced its first-ever global partner roadshow which will take place in Abu Dhabi, UAE, on February 28. The company, which has set out for itself ambitious production and revenue targets — 4 MMT oil and 5 BCM gas annual production by FY26 and 12 billion USD in revenue by 2030 — will be looking to build international collaboration with global partners. Oil India expects to attract over 50-plus leading companies from the energy services industry to its roadshow, said a statement on Monday.
“In a fueling display of ambition and strategic foresight, Oil India Limited, India's oldest exploration and production company and the youngest Maharatna CPSE of India, has announced its first-ever global partner roadshow: ‘Confluence: Where Energy and Opportunity Converge.’ This landmark event is scheduled to take place on 28th February 2024, in Abu Dhabi, UAE,” said the statement.
The roadshow will be hosted by the Chairman and Managing Director (CMD) of OIL, Dr Ranjit Rath, along with Director (Operations) Pankaj Goswami and senior officials of OIL. The event will serve as a critical platform to outline OIL’s detailed procurement strategies for the upcoming one-to-five years, offering a unique platform for partners to engage, ideate, and expedite the partner onboarding process. Additionally, the event highlights OIL’s focus on building strong relationships with its partners to explore new business opportunities in the energy industry, said the company.
“This event signals OIL’s commitment to aggressive growth and international collaboration. OIL has set its sights on ambitious production targets: 4 MMT oil and 5 BCM gas annual production by FY26. With a target to generate 12 Billion USD in revenue by 2030, the company plans to invest 4.8 Billion USD across a range of activities: ramping up exploration efforts, enhancing field development and expediting production. Additionally, OIL is set to expand aggressively across offshore Indian regions,” said the statement.
“The event is set to be a landmark in its history, potentially transforming the landscape of global energy cooperation. The focus will be on spearheading innovation, sustainability, and strategic alliances, with OIL aiming for setting new industry standards through collaborative efforts on a global scale,” it added.
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