YEAR EVENTS 1983 - The Company was incorporated on September 22, and received the Certificate of Commencement of Business on Febraury 23, 1984. It was promoted by Shri H.T. Parekh. The objects & activities of the Company is exploration of oil and gas in on-shore and off-shore areas and organise production, processing and marketing oil and gas. - The oil exploration and production involves the Analysis of available geological information and employing low cost exploration methods to identify areas of detailed study; Detailed seismic survey to identify structures with the possibility of bearing hydrocarbon; Exploratory drilling; Production of the field at optimum level. However, the use of latest techniques involving computers and other electronic instruments have enabled to map the underground structures and to predict presence of hydrocarbon more accurately. - Since incorporation, the company did some exploration related services for long digitisation job of oil wells in Southern North Sea project and Duliajan field (Oil India, Ltd.) along with Robertson Research International Ltd. of U.K. - To further strengthen its technical capability, the Company entered into collaboration with Prakla-Seismos AG of Germany and formed a joint venture company. Hindustan Prakla Geophysical Company, Ltd. (HPGC) to undertake all aspects of geophysical data acquisition and interpretation in India. - The Company also reached an understanding with Asia Foundations and constructions, Ltd. (AFCONS), to undertake drilling and other oilfield services. - Crew Energy, Canada a small independent oil company in consultation with the Company and Asia Foundation and Construction Ltd. (AFCONS) had made proposals to ONGC and OIL for oil exporation technique involving aeromagnetic survey, processing and interpretation of data. - The Company signed a letter of intent with International Petroleum, Ltd. (IPL) to take 10% of the share in Krishna-Godavari Offshore block KG-OS-IV with equal share in the benefits. - As per the production sharing agreement entered into between ONGC & IPL, ONGC had an option to appropriate 40% of the oil produced at international price. - The Company submitted an application to the commerce ministry for necessary approvals. 1988 - The Oil India Ltd. (IOL) signed a Memorandum of Understanding for a joint exploration programme. 1989 - Contract between OIL and Hindustan Oil Exploration Co. Ltd. for joint exploration programme was submitted to OIL. Date was set for signing of MOU between OIL, HOEC. - It had decided to participate with OIL in their new petroleum exploration licence area of Indo-Gangetic Basin or Saurashtra off-shore with a share of 40%. - The Company intends to build infrastructural facilities for carrying out seismic data analysis and its interpretation from the computer centre. - The Company also applied to the Government of Gujarat for petroleum exploration licence in the Kutch Basin. The Company awaited necessary Government approvals. - Government of India awarded 9 offshore blocks to 5 multinational companies for oil exploration. The Company signed a letter of intent with one of them viz., International Petroleum Corporation (IPC) of Canada for 10% share in the exploration programme. Necessary Government approvals were awaited. - The balance 1,12,000 shares out of the earlier issue taken up. Equity shares subdivided in Dec. 1989. 100,00,000 shares then issued at par of which 25,00,000 shares were reserved and allotted to Indian resident directors, their friends etc. Out of the remaining 75,00,000 shares, the following were reserved for preferential allotment: (i) 25,00,000 shares to NRIs on repatriation basis (all were taken up) and (ii) 5,00,000 shares to employees (including Indian working directors) of the Company (Only 1,500 shares were taken up). The balance 45,00,000 shares, along with 4,98,500 shares not taken up by employees were offered for public subscription during Feb. 1990. All were taken up. (Allotment of 1,00,000 shares to directors/relatives etc. was pending). 1990 - The Company submitted feasibility studies to the Government of Gujarat and Government of India for natural gas utilisation including bringing flared offshore gas to landfall point at Pipavav, development of natural gas reserves from mid-Tapti and South Tapti fields and natural gas distribution activities through equity participation in Gujarat Gas Co., Ltd. 1991 - A Memorandum of Understanding was signed with Petronas Carigali of Malaysia to conduct joint studies on basins/blocks of mutual interest. Three blocks were chosen for joint study by Carigali and the Company. The Company decided to submit bids for five blocks for the fourth round - three onshore blocks and two offshore blocks. - An understanding was reached with an American company Albion International Resources to bid as a consortium for one of the offshore blocks with Albion as the operator. - Hindage Oilfield Services Private Ltd. became a subsidiary of the Company. 1992 - The Company submitted a bid for the offshore block in the Cauvery basin. - 150,00,750 rights equity shares issued (prem. Rs 10 per share; prop. 1:1) (all were taken up). 17,508 NRI shares pending allotment. Another 7,50,100 shares (prem. Rs 10 per share) offered to employees (only 4,400 shares taken up). 1993 - On 29th March, the Company with Mafatlal Industries Ltd. (MIL) as partner signed the first ever oil exploration contract for an on shore area. - On February 19th, Albion (India) Inc. of USA as an operator signed a production sharing contract with the Ministry of Petroleum and ONGC for an offshore block off AP coast. 1994 - On December 30, PY-3 block was signed by the Company with Vaalco Energy as an operator. - In August, Cauvery Offshore block-CY-OS-2 was awarded to the consortium comprising Vaalco Energy on the operator, Mosbacher Energy Inc. USA. - PY-1 block was awarded in February to consortium comprising of Mosbacher Energy Inc., U.S.A. as the operator, Petrodyne Inc. USA and the Company with 30% share in the said block. The Company submitted bids in partnership with Indian and International oil Companies for development of several medium and small sized discovered oil fields. - The Company entered into a joint venture agreement with Bardahl Manufacturing Corporation Inc. USA for the marketing of Bardahl range of high performance engine additives in India. - 7,185 shares kept in abeyance were allotted. 1995 - The PSC for Asjol Onshore Oil field was signed, with the Company as an operator with 35% share in the said block. - On October, the PSC for cauvery offshore block was signed with the company's production sharing ratio of 30%. - The Company had also submitted several bids in partnership with Indian and International oil companies for exploration of blocks in the sixth and eights rounds of exploration bidding and for development of blocks in the second round of development. 1996 - Six small sized fields in North Gujarat and Cambay basin were awarded to the consortium consisting of Company, GSPC and Amec-Heritage in September. Tarapur and Palej blocks were awarded to the consortium consisting of Samson, GSPC and Company in September. - The Company submitted a proposal for an exploration block in Sultanate of Oman along with M/s. Khimji Ramdas of Oman. - On 19th November, the company signed PSC with Tata Petrodyne and Vaalco Energy Inc. for Gulf of Cambay offshore block and cauvery offshore basin block with Vaalco Energy Inc. and Tata Petrodyne. - Hindustan Prakla Geophysical Co., Ltd. (HPGC) is a subsidiary of the Company. 2003 -Appoints Mr Rakesh Jain as the Managing Director of the company. -Exercises its preferencial purchase right under the respective production sharing contracts to acquire 53.85% participating interest. -Company's equity shares gets listed and admitted to deal in National Stock Exchange of India. -Acquires its partners Mosbacher India Ltd equity holding in two oil blocks under development in the cauveri basin for a consideration of $14 million. 2004 -Hindustan Oil Exploration - Signing of Gas Sale Agreement with GSPC -PY-1 Gas Sales & Transportation Agreement 2005 -Delists equity shares from the Bangalore Stock Exchange Ltd w.e.f. January 10, 2005. -Delists equity shares from Madras Stock Exchange Ltd (MSE) with effect from February 16, 2005. -Delists equity shares from The Calcutta Stock Exchange Association Ltd (CSE) with effect from April 25, 2005. 2006 -Hindustan Oil Exploration Company Ltd (HOEC) has informed that the Company has entered into a Loan Agreement with a consortium of Banks co-led by IDBI Bank and UTI Bank for availing a US Dollar denominated Term Loan amounting to USD 100 million to part finance the development of PY-1 Field. 2007 -The company has issued rights in the ratio of 2:3 at a premium of Rs.107/- Per Share. -HOEC - Natural Gas Sales & Purchase Agreement: Block PY-1 -Hindustan Oil Exploration Company Ltd Issues Rights in the Ratio of 2:3 2009 - Hindustan Oil Exploration Company Ltd (HOEC) has informed BSE that the Board of Directors of the Company at its meeting held on June 11, 2009 has appointed Mr. Sergio Adriano Laura as Additional Director on the Board of the Company. 2010 - Mr. Sanjay Tiwari as Chief Legal Counsel and Company Secretary. - The Company, as the Operator of AAP ON-94/1 consortium, has commenced the drilling of the appraisal well in Block AAP ON-94/1. 2012 - Appointed Mr. V. Srinivasa Rangan as an Additional Director on the Board of the Company. - Hindustan Oil commences drilling of Dirok-4. 2014 -Hindustan Oil Exploration Company Ltd has informed that the Board of Directors of the Company at its meeting held on February 14, 2014, appointed Mr. Dhruv S. Kaji as Additional Director (Independent Director) 2017 - HOEC starts commercial gas sale from Dirok field 2018 -HOEC signs contract with govt for Assam oil block 2019 -Intimation of conditional agreement to acquire the entire share capital of Hardy Exploration & Production (India) Inc. -Inauguration Of Hollong Modular Gas Processing Plant, Dirok Field - Assam By The Honble Prime Minister Of India 2022 -Hindustan Oil Exploration commenced oil production and gas sales.