New Delhi, Feb 26 (IANS): Oil India Limited (OIL), India's youngest Maharatna central public sector enterprise, has announced its first-ever global partner roadshow: "Confluence: Where Energy and Opportunity Converge" which is scheduled to take place on 28th February at Abu Dhabi in the UAE.

The Ministry of Petroleum and Natural Gas said that the event, which is expected to attract over 50 leading companies from the energy services industry, signals OIL's commitment to aggressive growth and international collaboration.

It said that the OIL has set its sights on ambitious production targets: 4 MMT oil and 5 BCM gas annual production by 2025-26.

“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,” it said.

It said that 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,” the statement added.

It said that the event highlights OIL's focus on building strong relationships with its partners to explore new business opportunities in the energy industry.

“The focus of the event will be on spearheading innovation, sustainability, and strategic alliances, with OIL aiming for setting new industry standards through collaborative efforts on a global scale,” the statement said.