Hindustan Oil Exploration Company Ltd logo

Hindustan Oil Exploration Company Ltd

NSE: HINDOILEXP BSE: 500186

₹170.12

-5.09 (2.91%)

Thu, 22 Oct 2026, 06:56 pm

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Market Cap (in Cr)2318.22
PE Ratio89.60
Dividend0
Energy MineralsEnergy Minerals
Integrated OilIntegrated Oil
24.5K24.5K

Hindustan Oil Exploration Company Ltd Company History

1983

1983

  • The Company was incorporated on September 22
  • The Company was promoted by Shri H.T. Parekh
  • The Company did exploration related services for long digitisation job of oil wells in Southern North Sea project and Duliajan field

1988

1988

  • The Oil India Ltd. signed a Memorandum of Understanding for a joint exploration programme

1989

1989

  • Contract between OIL and Hindustan Oil Exploration Co. Ltd. for joint exploration programme was submitted
  • The Company decided to participate with OIL in their new petroleum exploration licence area
  • The Company applied to the Government of Gujarat for petroleum exploration licence in the Kutch Basin
  • The Company signed a letter of intent with International Petroleum Corporation of Canada

1990

1990

  • The Company submitted feasibility studies to the Government of Gujarat and Government of India

1991

1991

  • A Memorandum of Understanding was signed with Petronas Carigali of Malaysia
  • The Company decided to submit bids for five blocks
  • An understanding was reached with Albion International Resources to bid as a consortium
  • Hindage Oilfield Services Private Ltd. became a subsidiary of the Company

1992

1992

  • The Company submitted a bid for the offshore block in the Cauvery basin
  • 150,00,750 rights equity shares were issued

1993

1993

  • The Company signed the first ever oil exploration contract for an on shore area with Mafatlal Industries Ltd.
  • Albion (India) Inc. signed a production sharing contract with the Ministry of Petroleum and ONGC

1994

1994

  • PY-3 block was signed by the Company with Vaalco Energy as an operator
  • Cauvery Offshore block-CY-OS-2 was awarded to the consortium
  • PY-1 block was awarded to the consortium
  • The Company entered into a joint venture agreement with Bardahl Manufacturing Corporation Inc. USA

1995

1995

  • The PSC for Asjol Onshore Oil field was signed
  • The PSC for Cauvery offshore block was signed
  • The Company submitted several bids for exploration of blocks

1996

1996

  • Six small sized fields in North Gujarat and Cambay basin were awarded to the consortium
  • Tarapur and Palej blocks were awarded to the consortium
  • The Company submitted a proposal for an exploration block in Sultanate of Oman
  • The company signed PSC with Tata Petrodyne and Vaalco Energy Inc. for Gulf of Cambay offshore block

2003

2003

  • Appointed Mr Rakesh Jain as the Managing Director of the company
  • Exercised preferential purchase right to acquire 53.85% participating interest
  • Company's equity shares got listed and admitted to deal in National Stock Exchange of India
  • Acquired partner Mosbacher India Ltd's equity holding in two oil blocks

2004

2004

  • Hindustan Oil Exploration signed Gas Sale Agreement with GSPC
  • PY-1 Gas Sales & Transportation Agreement

2005

2005

  • Delisted equity shares from the Bangalore Stock Exchange Ltd
  • Delisted equity shares from Madras Stock Exchange Ltd
  • Delisted equity shares from The Calcutta Stock Exchange Association Ltd

2006

2006

  • Hindustan Oil Exploration Company Ltd entered into a Loan Agreement with a consortium of Banks for availing a US Dollar denominated Term Loan

2007

2007

  • The company issued rights in the ratio of 2:3 at a premium of Rs.107/- Per Share
  • HOEC signed Natural Gas Sales & Purchase Agreement for Block PY-1

2009

2009

  • Hindustan Oil Exploration Company Ltd appointed Mr. Sergio Adriano Laura as Additional Director on the Board of the Company

2010

2010

  • Mr. Sanjay Tiwari appointed as Chief Legal Counsel and Company Secretary
  • The Company commenced drilling of the appraisal well in Block AAP ON-94/1

2012

2012

  • Hindustan Oil commences drilling of Dirok-4
  • Appointed Mr. V. Srinivasa Rangan as an Additional Director on the Board of the Company

2014

2014

  • Hindustan Oil Exploration Company Ltd appointed Mr. Dhruv S. Kaji as Additional Director (Independent Director)

2017

2017

  • HOEC starts commercial gas sale from Dirok field

2018

2018

  • HOEC signs contract with government for Assam oil block

2019

2019

  • Inauguration of Hollong Modular Gas Processing Plant, Dirok Field in Assam by the Hon'ble Prime Minister of India
  • Intimation of conditional agreement to acquire the entire share capital of Hardy Exploration & Production (India) Inc.

2022

2022

  • Hindustan Oil Exploration commenced oil production and gas sales.
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