OIL's Glorious Journey
1959
Oil India Private Limited was incorporated as a rupee company to take over Burmah Oil Company’s affairs in Assam
Meanwhile, on 18th February 1959, for development and production of Naharkatia and Moran prospects and to increase the pace of exploration in Assam, Oil India Private Limited was incorporated as a rupee company to take over Burmah Oil Company’s affairs in Assam. The company was owned 2/3rd by Assam Oil Company/ Burmah Oil Company and 1/3rd by Government of India and in 1961 they became equal partners by transforming OIL into a Joint Venture company. OIL discovered Kusijan oilfield in 1969 and Jorajan oilfield in 1972. Later, Eocene gas was discovered by OIL in Tengakhat field of Assam in 1973.
