Incorporation of our Company
 
 Our Company was incorporated as a private limited company on 
 February 18, 1959 under the name Oil India Private Limited, pursuant 
 to a promoters’ agreement dated January 14, 1958, between the
 President  of India, Burmah Oil Company Limited and Assam Oil Company
 Limited. At  the time of our incorporation, Burmah Oil Company Limited
 and the President 
 of India held two-thirds and one third of our Equity Share capital,
 respectively.  Our Company was incorporated with the main object of
 exploration and  production of crude oil (including natural gas). Our
 Company became a  deemed public limited company with effect from March
 28, 1961 and the  word private was deleted from the name of our
 Company on May 4, 1961.
 
 Pursuant to an agreement, dated July 27 1961, between Burmah Oil
 Company  Limited and Assam Oil Company Limited and our Company,
 Burmah Oil Company  Limited transferred certain of its Equity Shares
 to the President of India, and both  became equal partners holding a
 50:50 interest in the Equity Share capital of our  Company.
 Thereafter, pursuant to the Burmah Oil Company (Acquisition of Shares
 of Oil India Limited and of the Undertakings in India of Assam Oil 
 Company Limited and the Burmah Oil Company (India Trading) Limited)
 Act, 
 1981, the E uity Shares in our Company held by Burmah Oil Company
 Limited  were transferred to the President of India, pursuant to
 which our Company  became a wholly owned Government company. We
 received a fresh  certificate of incorporation on conversion to a
 public limited company from the  RoC on August 30, 1995.
  
 Major events
 
 The following table illustrates the major events in the history of
 our Company since  our incorporation in 1959.
 
 Year     Event
 
 1959    Oil India Private Limited incorporated with Burmah Oil
 Company Limited holding 
              two-thirds of the Equity Share capital and the President
 of India holding one-third 
              of the Equity Share capital
 
 1961    Oil India Private Limited transformed into an equal
 partnership joint venture 
              company between Burmah Oil Company Limited and the
 President of India
 
 1961    Gas-based power plant commissioned at Duliajan, Assam
 
 1962    Completed construction of a 401 km (16 inch diameter)
 pipeline from Duliajan to  
               Guwahati 
 
 1963    Completed construction of a 756 km (14 inch diameter)
 pipeline from Guwahati 
                to Barauni 
 
 1972    Discovery of commercially producible crude oil in Jorajan
 fields and Kharsang fields
 
 1981    Our Company became a wholly owned enterprise of the GoI
 
 1982    LPG plant based on turbo expander technology commissioned at
 Duliajan, Assam
 
 1988    Discovery of commercially exploitable gas reserves in Tanot,
 Rajasthan
 
 1989    Discovery of commercially exploitable gas reserves in
 Dandewala, Rajasthan
 
 1990    Discovery of commercially producible crude oil in ecocene
 formation in Dikom
 
 1991    Dicovery of commercially producible crude oil in ecocene
 formation in Kathaloni
 
 1992    Entered into an agreement with Hydrocarbon Research
 Incorporated, for initiating 
               coal oil coprocessing studies
 
 1995    Entered into PSCs with various companies, to revive the
 declining Kharsang producing 
               field 
 
 1997        Grant of Mini Ratna-I status
 
 2002    Entered into a consortium with OVL and IOCL to execute a
 service contract with 
               the National Iranian Oil Company for the Farsi Block,
 Iran
 
               Golden Peacock award for corporate social
 responsibility, awarded by the 
                   Federation of Indian Chambers of Commerce and
 Industry
 
 2003        Award for excellent safety performance, awarded by the
 Oil Industry Safety 
                  Directorate
  
                 Our Company certified to conform to Quality
 Management System (QMS) Standard:
                 International Standardisation Organisation (ISO)
 9001:2000 from Det Norske 
                 Veritas (DNV) for  production, storage and filling of
 LPG in cylinders and tankers 
                 for distribution to marketing agency. The certificate
 is valid until October 31, 2009
 
 2004    Upgrading of our Company to a ‘schedule A’ company
 
                 Entered into a memorandum of understanding with IOCL
 for pursuing overseas 
              exploration and production opportunities
 
                 Acquired participating interest in a pipeline outside
 India by entering into an 
               agreement with OVL for construction of a 741 km long
 pipeline in Sudan
 
               Our pipeline department at Noomati, Guwahati certified
 to conform to QMS Standard: 
                 ISO 9001:2000, Operational Health and Safety Standard
 (OHSAS) 18001:1999 
                 and ISO 14001:1996 from DNV for operations and
 maintenance of cross country 
                 pipelines. The certificates are valid until April 30,
 2010
 
 2005    Entered into a memorandum of understanding with IOTL for
 jointly taking up pipeline 
               and related projects in India and overseas
 
               Entered into a memorandum of understanding with ITERA
 Oil and Gas Company, 
                Russia, to jointly pursue exploration and production
 opportunities in India and 
                overseas, including in Libya
 
                Awarded Block 86 (Sirte basin) and Block 102/4 in
 Libya, along with IOCL
 
              Annual award for environment excellence, awarded by
 Greentech
 
            Corporate social responsibility award, awarded by the Tata
 Energy Research Institute
      
               Award for best performance in energy conservation,
 awarded by 
                 Petroleum ConservationResearch Association
 
                    Our LPG recovery and bottling plant was certified
 to conform to QMS Standard:              
                 OHSAS 18001:1999 and ISO 14001:2004 from DNV for
 recovery, storage, bottling and 
                  despatch of LPG in bottles and road tankers. The
 certificates are valid until May 
                  13, 2008
 
                   Our hospital at Duliajan, Assam was certified by
 Bureau Veritas Certification (formerly,
                 BVQI) Standard; ISO 9001:2000. The certificate is
 valid until October 5, 2008
 
                 Our gas turbine power station at Duliajan, Assam was
 certified by BVQI Standard; 
                OHSAS 18001:1999. The certificate is valid until March
 8, 2008
 
                 Our chemical laboratory at Duliajan, Assam was
 certified by BVQI Standard: ISO 
               9001:2000. The certificate is valid until November 19,
 2008
 
                 Our Tengakhat Oil Collecting Station at Duliajan,
 Assam was certified to conform 
               to QMS Standard: OHSAS 18001:1999 from DNV for receipt,
 processing, storage 
               and despatch of crude oil. The certificate is valid
 until May 13, 2008
 
 
  2006     Executed a farm in agreement with IOCL and Marvis Private
 Limited, Singapore 
              acquiring a participating interest in Block Shakthi,
 Gabon to our Company and IOCL
 
                  Awarded eight blocks in NELP-VI, out of which our
 Company is operator in six blocks
 
                Entered into a joint venture agreement with GAIL, NRL
 and the Government of Assam to
                 establish a gas-based cracker project at Lepetkata,
 Assam
 
                 Best public sector unit award in a survey of public
 enterprises conducted by the 
                  Department of Public Enterprises, GoI
 
 2007     Entered into a memorandum of understanding with British Gas
 for pursuing 
                    exploration and production opportunities
 
              Entered into a memorandum of understanding with HPCL,
 GAIL, Total France, SA, 
                and Mittal Energy Investment Private Limited for
 promoting a refinery-
                  cum petrochemical complex in Vizag
 
              Entered into a memorandum of understanding with HPCL to
 jointly pursue oil and gas
                 opportunities in the downstream and upstream segment
 in India as well as overseas
 
              Enterprise excellence award, awarded by the Indian
 Institute of Industrial Engineering
 
             SAP-ACE-2007 award for customer excellence in the best
 oil and gas sector 
                 implementation category 
 
               Our Research and Development Department is accredited
 by the National 
                 Accreditation Board for Testing and Calibration
 Laboratories, India in accordance 
                with the standard ISO/IEC 17025:2005 for general
 requirements for the 
                 competence of testing and calibration laboratories in
 the field of chemical testing. 
                 The certificate is valid until April 4, 2009
 
                 Our Fire Service at Moran was certified to conform to
 the Quality Management 
                 System Standard: ISO 9001:2000, ISO 14001:2004 and
 ISO 18001:1999 from DNV 
                 for operation and maintenance of fire service. The
 certificates are valid until 
                 February 6, 2010 
 
               Our fire service at Duliajan was certified to conform
 to QMS Standard: ISO 9001:2000, 
                 ISO 14001:2004 and OHSAS 18001:1999 from DNV for
 operation and maintenance 
                 of fire service. The certificates are valid until
 February 6, 2010 
 
 2008    Our hospital at Duliajan, Assam was certified by BVQI
 Standard OHSAS 18001:2007.  
               The certificate is valid until August 25, 2011
 
             Our hospital at Duliajan, Assam was certified by Bureau
 Veritas Certification (formerly,
             BVQI) Standard ISO 9001:2000, ISO 14001:2004. The
 certificate is valid until August 25,
               2011
 
 2009
 
 -Oil India makes significant oil discovery in India
 
 -Oil India IPO opens for subscription
 
 -Listing of equity shares of Oil India Ltd
 
 2010
 
 -OIL granted Navratna status
 
 -Oil India has been producing 10,000 tons of oil a day 
 
 -Oil India Limited with other Indian Oil PSUs sign JV agreement for
  billion Carabobo-1 Project in Venezuela
 
 2011
 
 -Oil India signs biofuels R&D pact with Energy and Resources
 Institute
 
 -OIL donates Rs 50 lakh to CM’s Relief Fund
 
 2012
 
 -Adani group, Oil India ink agreements to bid BG group in Gujarat Gas
 Co Ltd (GGCL).
 
 -OIL achieves highest production oil, natural gas
 
 -Oil India bags E&P Company Award for 2010-11 
 
 -Oil honoured with Performance Excellence Award 2011(Organisation) by
 IIIE
 
 -OIL bagged the most prestigious Oil Industry Safety Directorate 
 
 -OIL and IOC jointly acquire 30% stake in Carrizo's Niobrara shale
 assets in Colorado, USA 
 Award.
 
 - Oil India has given the Bonus in the Ratio of 3:2