A consecrated oil used in two sacraments, viz. at baptism and Chrism, as well as at the consecration of the Church and of the sacred vessels etc. The priest is allowed to anoint the newly-baptized with the chrism.
The tradition of using this sacred oil goes back to the Old Testament (Exod. 39) where God ordered Moses to prepare a compound anointing oil of myrrh, cinnamon, cassia, and sweet calamus mixed with pure olive oil. It was used in anointing kings, priests, the tent of the tabernacle, and its furnitures.
It's made out of specific oils mixed with spices that was presented when the Lord was shrouded.
Chrism is administered immediately after baptism. The newly-baptized joins the church and becomes one of it's members through baptism, and is strengthened through Chrism, thus he has now the right to partake of the holy Communion.
Dictionary of church terms. — St. GEORGE'S COPTIC ORTHODOX CHURCH SPORTING - ALEXANDRIA EGYPT. Fr. Tadros Yacoub Maiaty.