Sterling International Enterprises Ltd was incorporated in the year 1984 with the name Transworld Infotech Ltd. Initially, the company operated in the IT and ITES sector, but after identifying growth areas, they diversified their business to include oil trading and related activities, letting on hire of oil rigs and services in seismic data interpretation.
The company operates in these areas through their subsidiaries, namely British Oil & Gas Exploration Pvt Ltd, British Oil Resources Ltd, British Oil & Gas Explorations Ltd, Sterling Oil Resources Ltd and Geodynamic Geospectra Ltd.
The company through their subsidiaries, own oil drilling rigs in Nigeria which are given on lease. They also operate in the Geology and Seismic systems business with a focus on the oil industry. Further, the company trades oil in international market through their subsidiary companies.
During the year 2007-08, the company identified the new growth areas in the economy and commenced new businesses like mining, hospitality, oil trading and letting on hire oil rigs, etc. They changed the name of the company of the company from Transworld Infotech Ltd to Sterling International Enterprises Ltd with effect from January 17, 2008.
During the year, the company incorporated a wholly owned overseas subsidiary, British Oil and Gas Exploration Pvt Ltd, Mauritius. British Oil and Gas Exploration Pvt Ltd incorporated wholly owned overseas subsidiary British Oil Resources Pvt Ltd, Mauritius. British Oil Resources Pvt Ltd incorporated three wholly owned overseas subsidiaries namely British Oil and Gas Exploration Ltd at BVI, Sterling Oil Resources Ltd at BVI and Geodynamic Geospectra Ltd at BVI.
The company decides to commence new business (ie) manufacturers, dealers, etc. of chemical and fertilizer, etc. They also propose to purchase more rigs in near future and strengthen their presence in the oil drilling business.