NO ! That's a hard drive feature, not directly connected to the OEM which I was talking about. By OEM I meant the Original Equipment Manufacturer, e.g. DELL, LENOVO, HP etc.
That OEM partition which you mentioned, is used for recovery purpose when your system fails to boot up. When you insert your recovery disk it will fetch recovery points from this OEM partition and try to restore to the previous restoration points which will be mentioned in this partition.
You can surely delete this partition, but it's NOT recommended. If you manually want to create such partition again then you can do it by booting with Windows Bootable disk.
This partition is there for a reason, deleting it you will loose access to some of the recovery features provided by the manufacturer, remember to keep a windows disc around if you break the machine. Just re-install your windows erasing the whole disk and you will get rid of this partition.