We are the second largest national oil and gas company in India as measured by total proved plus probable oil
and natural gas reserves and production (Source: DGH). We are primarily engaged in the exploration,
development, production and transportation of crude oil and natural gas onshore in India. We also process our
produced natural gas to extract LPG. We are present internationally through the exploration of crude oil and
natural gas in Egypt, Gabon, Iran, Libya, Nigeria, Timor Leste and Yemen. We primarily conduct our activities
with respect to our domestic producing blocks and exploration activities in our nomination blocks
independently. We also conduct exploration activity, both in India and overseas, through joint venture
arrangements and PSCs with other oil companies.
We were incorporated as a private limited company in 1959. We have been present in the Indian oil and gas
exploration and production industry for over five decades and count among our achievements the creation,
operation and maintenance of a fully automated crude oil pipeline.
As of March 31, 2009, all of our estimated independent proved plus probable oil reserves, as well as 93.66% of
our estimated independent natural gas reserves, are located onshore in the Upper Assam basin in the states of
Assam and Arunachal Pradesh. Additionally, we have independent natural gas reserves in the Jaisalmer basin in
the state of Rajasthan. As of March 31, 2009, our unaudited estimated independent proved plus probable crude
oil reserves were approximately 575.40 million barrels (which include certain reserves attributable to
condensate from non-associated gas reservoirs) and our independent proved plus probable natural gas reserves
were approximately 63.41 billion cubic meters (which include certain reserves attributable to fuel gas
consumption). In addition to our independent reserves, we also have a 40% participating interest in crude oil
reserves in the Kharsang fields in the Assam-Arakan basin in the state of Arunachal Pradesh. For fiscal 2009,
our gross production amounted to approximately 24.95 million barrels of oil and approximately 2.27 billion
cubic meters of natural gas, representing an average daily production of approximately 68,358 barrels of oil and
6.22 million cubic meters of natural gas. Our production amounted to approximately 10.41% and 6.91% of
India's total production of crude oil and natural gas, respectively, for fiscal 2009 (Source: PPAC). For the three
months ended June 30, 2009, our production amounted approximately 6.34 million barrels of oil and
approximately 0.60 billion cubic meters of natural gas, representing an average daily production of
approximately 69,619 barrels of oil and approximately 6.64 million cubic meters of natural gas.
We own and operate, as a common carrier for us, ONGC and BRPL, a 1,157 kilometer cross-country crude oil
pipeline. The pipeline has the capacity to transport over 44 million barrels of crude oil annually. We transported
approximately 45 million barrels of crude oil in fiscal 2009 to four public sector refineries in the North East
region of India located in Digboi, Numaligarh, Guwahati and Bongaigaon. We own ten crude oil pumping
stations and 17 repeater stations, spread across the states of Assam, West Bengal and Bihar. We also own and
operate a 660 kilometer petroleum product pipeline connecting NRL to Siliguri in West Bengal, which was
commissioned in August 2008.
We have interests in downstream activities through a 26% equity stake in NRL, a 10% equity stake in BCPL
and a 23% equity stake in DNP Limited. We also hold a 10% equity stake in a 741 kilometer pipeline
construction project in Sudan that was completed in 2005. We have the ability to provide various exploration
and production-related services to the oil and gas industry, both domestically and internationally, including
pipeline construction, pipeline consultancy services, drilling and well work-over services, research and
development services and logging services.
As a public sector undertaking, we have been accorded "Mini Ratna Category I" status since 1997 by the GoI for
our operational efficiency and financial strength. In recognition of our performance and our consistent
achievement of targets negotiated under the memoranda of understanding that we enter into with the GoI on an
annual basis, the GoI has rated our performance as "Excellent" for fiscal 2005 and 2006 and "Very Good" for
fiscal 2007 and fiscal 2008. We were also ranked as the best public sector undertaking by the Department of
Public Enterprises in its annual survey for fiscal 2006.
We had revenues of Rs. 60,099.89 million, Rs. 67,954.63 million and Rs. 81,378.77 million, for fiscal 2007,
2008 and 2009, respectively. Our profit after tax as restated was Rs. 15,403.91 million, Rs. 17,795.97 million
and Rs. 22,308.50 million for fiscal 2007, 2008 and 2009, respectively. For the three months ended June 30,
2009, our revenues were Rs. 21,381.46 million and our profit after tax as restated was Rs. 7,396.92 million.