India's #2 E&P: Assam/Arunachal onshore oil & gas and Rajasthan; overseas stakes (Russia Vankor/Taas, US shale, Mozambique LNG); majority owner of the Numaligarh Refinery (NRL) expansion.
State-controlled (~56%) with Assam concentration; the NRL refinery expansion and regulated gas prices shape the outlook. Flags: state control, geographic concentration, price regulation.
Its EV/EBITDA of 8.6x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of -3.2% is lower than the 6.5% median, and at $11.55/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Oil India scores 45/100, strongest on growth (78/100). Sub-scores: value 38, quality 54, growth 78, risk 69 (higher = riskier).
Oil India holds approximately 1.1 billion boe of proved (1P) reserves with FY2025 production of about 175 thousand boe/d (52% liquids), a reserve life of roughly 17.2 years. Break-even: ~$25 (lifting cost (note)) — Low-cost Assam onshore; regulated gas pricing.
For Oil India, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| India | 88% | 56 | Regulatory complexity, pricing controls, import dependence. |
| Russia | 6% | 92 | Sanctions, expropriation, export bans, war; effectively uninvestable. |
| Other overseas | 6% | 50 | diversified/unspecified exposure — universe-average proxy |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Assam onshore (Naharkatiya, etc.) | India | Onshore oil | core producing |
| Arunachal / NE India | India | Oil/gas | frontier |
| Rajasthan (Baghewala) | India | Heavy oil | development |
| Numaligarh Refinery (NRL) | India | Downstream | majority-owned, expansion to 9 mtpa |
| Russia (Vankor/Taas) | Russia | Oil | overseas stakes |
| Mozambique LNG | Mozambique | LNG | stake |
| US shale (Niobrara) | United States | Shale | stake |
| Gabon / Nigeria | Gabon/Nigeria | Oil | overseas |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 105 | 110 | 115 | 118 | 175 |
| Proved reserves (bnboe) | 0.90 | 0.92 | 0.93 | 0.94 | 1.10 |
| Revenue ($bn) | 1.2 | 1.7 | 2.5 | 2.6 | 4.0 |
| EBITDA ($bn) | 0.5 | 0.9 | 1.4 | 1.5 | 1.5 |
| Net income ($bn) | 0.4 | 0.7 | 0.8 | 0.9 | 0.8 |
| Free cash flow ($bn) | 0.2 | 0.4 | 0.6 | 0.5 | -0.3 |
Enter your email and we'll open a print-ready one-page tearsheet for Oil India — and add you to the monthly oil & gas valuation screen.
✓ FY2025 figures verified against primary sources: