"I've been shot at, kidnapped and beaten up," he said.
It felt great to have somebody's life, Mr Oldham said.
"I've been to many house fires ... but nothing like that."
He had a special shelf in mind for his award at home, he said, where it would join a collection of prized and quirky possessions including his father's war helmet, a shark mouth, and several unusual stuffed animals.
Prime Minister John Key presented the two officers with the awards this afternoon.
He said Mr Oldham found himself in a dangerous situation when encountering the fire in Maranui St, Tauranga, last July.
"In the smoke-filled house and with his torch useless, Senior Constable Oldham was driven onto his hands and knees to search for Neta. In the dark and struggling to breathe, he found her ankle and pulled. He was able to drag Mrs Lawrence back to the window and with the assistance of Constable Shane McCarthy ... the officers were able to get Mrs Lawrence out of the burning house and administer first aid until the ambulance arrived."
Mr Turner, a dog handler from Hamilton, intercepted a dangerous offender who attempted to drag a "terrified woman" from her vehicle in August last year, the Prime Minister said.
"A violent struggle followed, during which two rounds were fired from the shotgun."
One of these rounds injured another police officer.
The Police Association said Mr Turner risked his life to save the woman.
"The actions of Senior Constable Oldham and Constable Turner exemplify the traditions and highest ideals of policing," the association's president Greg O'Connor said.
Both policemen thanked their families in brief speeches.
The awards were not automatically presented every year, the Police Association said, but followed acts of exceptional bravery capturing the attention of association members.
