The club, is struggling on the pitch and in danger of missing out on the lucrative Champions League for the second time in three seasons, said the deal would help increase the club's brand in Asia, where it says it has 325 million followers.
Gulf Oil International is part of India's Hinduja Group.
"(It) already has significant experience in sport and we are looking forward to working with them to expand that into football," United's group managing director Richard Arnold said in a statement.
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"Through this partnership we will further our commitment to reach our fans around the world, especially in Asia."
United, who recently announced a 26.6 percent rise in total revenues for the quarter ending in December 2015, largely driven by the club's commercial activities, are in the first season of a 750 million pound kit deal with sportswear firm Adidas.
United's lengthy list of partners also includes car firm Chevrolet and financial services company Aon .
The club expects revenue for the year to hit 500 million pounds which would be a first for a British club.
(Reporting by Martyn Herman Editing by Jeremy Gaunt)
