By: ICN Bureau
Last updated : February 27, 2024 5:52 am
OIL has set its sights on ambitious production targets: 4 MMT oil and 5 BCM gas annual production by FY26
Oil India Limited (OIL), India's oldest exploration and production company, has announced its first-ever global partner roadshow: "Confluence: Where Energy and Opportunity Converge". The event is scheduled to take place on 28th February 2024, in Abu Dhabi, UAE.
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.
The roadshow will be hosted by the Chairman and Managing Director of OIL, along with Director, Operations 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. It is anticipated to attract over 50 plus leading companies from the energy services industry.
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.