NEW DELHI, June 11 � Oil India Limited (OIL) bagged best Exploration & Production Company Award for 2010-2011, instituted by Petrofed and the oil and gas industry. The award was given away to SK Srivastava, Chairman and Managing Director, Oil and TK Ananthkumar, Director (Finance) by Union Minister of Petroleum & Natural Gas, Jaipal Reddy at a function at New Delhi on Sunday in presence of captains and leaders of the petroleum industry in India. This was stated by Tridib Duvarah, Manager (PR & Co-ordination) OIL, in a press release.
Oil India received the award for its stellar performance in the exploration and production sector. OIL has been able to sustain the increase in production of both crude oil and natural gas over the last few years. Crude oil production is now nearing the 4MTPA mark while Gas is over 7MMSCMD. Oil is the only company which has been able to increase production over the last few years from mature fields.