Oil India rises on commissioning CSS Technology

Oil India has successfully commissioned the Cyclic Steam Stimulation (CSS) Technology in the well BGW - 8 in Baghewala PML of Rajasthan for extraction of heavy crude oil for the first time in India.

As part of the Pilot Project, CSS will be implemented in two more wells followed by field scale implementation and will also be applied to assess the potential of other similar reservoirs. This technique will ensure enhancement of production from this field.

Last one week high and low of the scrip stood at Rs. 204.90 and Rs. 181.90, respectively. The current market capitalization of the company is Rs. 21,182.98 crore.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company. The promoters holding in the company stood at 66.13 per cent, while Institutions and Non-Institutions held 18.81 and 15.06 per cent, respectively.

During Wednesday’s trade, the stock opened at Rs. 186.90 per share and touched a high/low of 189.20/186.20 and at 10:12 am, the stock was quoting at Rs. 188.75 per share, up by 1.13 per cent.