New Horizons

With a hard-working and highly experienced person at its helm, OIL is all set for a boom. B.B. Sharma, Chairman and Managing Director, OIL speaks to Aziz Haider on the company’s efforts, achievements and vision.

Q. OIL is known to have a glorious heritage. Despite several ups and downs, it has continued to grow and prosper. Tell us how you carry both heritage and vision along?
A. It was sheer providence that oil came to be discovered in India. An elephant working for the Assam Railways and Trading Company Limited (AR&T Co. Ltd.) in upper Assam returned with distinct traces of oil on its trail, thus leading to erection of the world’s oldest continuously producing oilfield at Digboi, in the year 1889. Naharkatiya oil-field, discovered in 1953, was the first major success after Digboi. Years later in 1981, after several changes in name and structure, it became Oil India Ltd.
Q. Where do we stand in terms of energy production?
Naharkatiya became a prelude to a string of significant discoveries in the country. So much so that crude oil production that was in the range of 0.25 MMT at the time of independence of India has reached a level of 32 MMT today. Natural gas production has reached a level of 79 MMSCMD.
Q. Why have you remained confined mostly to north east till now?
A. It is true that our major areas of operation are in the north east where 85 per cent of the total activities are taking place. We became nationalized in 1981 and in subsequent years only, we were given a green signal to look for areas outside of north east. But by then ONGC had already taken up all good exploration areas. It was only when level playing field was allowed under New Exploration License Police (NELP) that we managed to get more areas. Lately, we have carried out exploration for hydrocarbons in several areas outside the north east and entered in an exploration agreement with a French company in the Sultanate of Oman.
Q. With international competition entering in this sector, have you modified your strategy?
A. We are gearing ourselves up to upgrade our skills and techniques, to train our workforce, and acquiring new equipment. The company now has the state-of-the-art two dimensional and three-dimensional seismic date acquisition systems, the best software for seismic data processing and very advanced client-server based workstation set up for seismic data interpretation.
Q. What then is your core competence?
A. The company has drilled over 1,000 wells and 3.5 million metres in very difficult surface and sub-surface environments and high underground pressures and temperatures. From the completion of well-bore servicing, installation, operation and maintenance of modern surface handling facilities, the company has the skill and expertise to manage the entire range of operations required for onshore oil and gas production.
Q. You have more than 38 years of hardcore experience in oilfield activities ranging from engineering, production, exploration and project management. How are you suing this for the benefit of OIL?

A. I am putting my experience to good use. I always prefer to work in a team. Thankfully, we have a very efficient team here, together with whom we have taken a lot of initiatives in aggressively intensifying our exploration and diversification plans.