Oil India Ltd (OIL) is strengthening its role in India’s energy security through full-value-chain integration, with a continued focus on upstream growth, midstream infrastructure, petrochemicals, city gas distribution, offshore exploration and energy-transition opportunities.
In a letter to shareholders, OIL Chairman and Managing Director Ranjit Rath said the company is targeting 10-12 MMTOE of production by 2030 while expanding its midstream infrastructure, including more than 18 MMTPA of crude, 6 MMSCMD of gas and over 5.5 MMTPA of product pipelines.
CGD network expansion gathers pace
OIL is also scaling its City Gas Distribution network across nine strategic geographical areas through joint ventures. By 2035, it plans to increase CNG stations from 81 to over 500 and PNG connections from 73,300 to 1.4 million.
The company also aims to expand its pipeline network to 8,500-9,000 inch-km as part of its long-term infrastructure expansion.
Petrochemical capacity set to rise
OIL is accelerating downstream integration through high-margin petrochemical derivatives, with total production capacity targeted to increase from 594 KTPA in FY26 to 1,058 KTPA.
Brahmaputra Cracker and Polymer Ltd (BCPL) operated at 106% capacity utilisation, while Assam Petrochemicals Ltd (APL) recorded 87%. BCPL’s 64 KTPA expansion is expected by FY27, followed by Numaligarh Refinery Ltd’s 360 KTPA petrochemical project by FY29.
Innovation ecosystem gets investment push
OIL has strengthened its start-up ecosystem through OIL SNEH, supporting 25 start-ups and partnering with IITs and IIM Lucknow for incubation and mentoring.
The company is now moving towards an investment-led model through the proposed OIL SNEH Venture Scheme, a Category-I AIF, with 15 start-ups shortlisted for potential investment.
₹350 crore committed to startups
“OIL has committed approximately ₹350 crore over ten years towards this initiative, which, together with the proposed MC² AIF, seeks to provide promising start-ups and emerging technologies a pathway from innovation and incubation to investment, commercialisation and scale,” said OIL Chairman and Managing Director Ranjit Rath.
The initiatives will focus particularly on technologies aligned with India’s energy transition and national priorities.
Deepwater exploration becomes strategic priority
OIL is making a strategic shift towards offshore and deepwater exploration by building acreage, technology and capabilities for India’s next generation of hydrocarbon opportunities.
The Government’s Samudra Manthan National Offshore Exploration Scheme, with an outlay of ₹84,084 crore up to FY31, is aimed at accelerating deepwater and ultra-deepwater exploration through better seismic data, risk-sharing, advanced technology and common offshore infrastructure.
Offshore footprint expands
OIL has expanded its presence across the Andaman, Mahanadi and Krishna-Godavari basins, including its maiden operatorship in ultra-deepwater acreage.
An expanded Technical Service Agreement with TotalEnergies is also bringing global deepwater expertise to strengthen prospect evaluation and progressively de-risk OIL’s frontier portfolio.
Alongside upstream expansion, the company is strengthening surface processing and evacuation infrastructure to support production growth and improve operational reliability.