Prize Petroleum company Ltd (Prize) was incorporated on 28th Oct 1998, and its formation was duly approved by Government of India, Ministry of Petroleum and Natural Gas vide letter no: R-30024/46/96/MC dated 6th July 1998. The company was promoted by Hindustan Petroleum Corporation Ltd (HPCL), a Fortune 500 refining and marketing company in India, and one of the first “Navratna” companies from among the Public Sector Enterprises owned by the Government of India. Earlier HPCL held 50% of the equity share capital, the balance being held by financial Institutions. On 18th of January 2012 Prize became a wholly owned subsidiary of HPCL.

Presently led by Chief Executive Officer (CEO) it was formed to pursue opportunities in Exploration and production of Oil and Gas sector in India and abroad.

Our operating projects are Hirapur Marginal oil fields of Cambay basin located near Gandhinagar (Gujarat) under the service contract with ONGC; and the pre NELP Production Sharing Contract (PSC) for the Sanganpur (Mehsana) field with M/s Hydrocarbon Development Company (P) Ltd (HDCPL) as Operator. During the sixth bidding round of the NELP, Prize along with its consortium partner, M/s Jaiprakash Associates Ltd (JAL), secured the South Rewa (MP) PSC.

Prize along with ABG Energy has been ranked the No 1Bidder in the NELP IX Tripura Block.

Prize has progressively strengthened its organisation and its capacity to perform throughout the value chain. Today Prize actively seeks Farm-in opportunities in Indian and overseas projects, both as an Operator and Investor.