Introduced by Petrofed and the oil & gas industry, OIL received the best Exploration & Production Company Award for the year 2010-2011. Union Minister for Petroleum and Natural Gas, Jaipal Reddy gave away the PetroFed Awards 2011 to Mr. SK Srivastava, who is the Chairman and Managing Director of Oil India Limited. Along with him, Mr. TK Ananthkumar, Director (Finance) also received the award at a function at New Delhi on Sunday. During this in function all the captains and leaders of the petroleum industry across India were present. OIL has been able to maintain the increase in production of both crude oil and natural gas over the last few years. Owing to this Oil India Limited today received this prestigious award for astrophysical performance in the exploration and production division.