Sphincter of oddi is present at:

The sphincter of Oddi is a circular muscular valve that controls the flow of digestive secretions into the duodenum.

It is located at the point where the combined bile duct (from the liver and gallbladder) and the pancreatic duct join together and open into the duodenum. This anatomical region is called the hepato‑pancreatic ampulla (ampulla of Vater), and the sphincter surrounds the terminal end of this ampulla.

Hence, the correct statement is that the sphincter of Oddi is present at the junction of the hepato‑pancreatic duct and the duodenum.