Walid Abed, general manager of IMCC Investment, talks to The Energy Year about the company’s ongoing diversification, including forays into manufacturing and…
READ MOREIndia's Energy Industry
in figures
Oil reserves4.5 billion barrels
Oil production746,000 bopd
Gas reserves1.3 tcm
Gas production28.5 bcm
India: Demand for Investment
India’s oil and gas industry has long been a rising pillar in the country’s economic development. While India is a net importer of hydrocarbons, with the International Energy Agency forecasting dependence on oil imports to rise to 90% by 2040, E&P activities have grown considerably to match the country’s growing energy consumption. The government has made successful revisions of its policies and pricing to incentivise exploration, production and downstream activities, including early production royalty concessions and allowance of 100% FDI participation in many areas of the energy industry.
Most of India’s oil reserves are located in the west of the country, in particular in the western offshore region near Gujarat and Rajasthan. The Assam-Arakan basin in India’s northeast is also an important oil-bearing area. These regions contain mature fields where production is currently declining. EOR and redevelopment projects are underway to minimise production decline, with new technologies raising interest for investors looking to participate in brownfield projects. The country’s upstream sector is dominated by India’s NOC ONGC and its subsidiaries, with massive participation from local and foreign independents.
Outside of its upstream sector, India’s downstream sector has grown considerably to match raised production and petroleum imports. Local players Indian Oil Corporation, Bharat Petroleum Corporation and Reliance Industries have traditionally taken up more than 60% of the local refining market. LNG terminals have also grown around India’s coastline, with more penned for further development. The nation is also actively looking to increase its gas pipeline infrastructure to increase industrial development in regional areas and support economic equality between its states and union territories.
José Manuel Ganga Junior, CEO of ENDIAMA, talks to The Energy Year about the company’s shift in strategy to ensure more…
READ MOREKarol Mathias, executive vice-president and partner at Khalil Bahman & Partners, talks to The Energy Year about the company’s…
READ MOREFaisal Malallah, CEO of Al Kout Industrial Projects, talks to The Energy Year about the company’s role in Kuwait’s economy…
READ MORETotalEnergies has decided to restart its USD 20-billion Mozambique LNG development in Q1 2024, Reuters reported on Friday.
The scope of the project includes…
READ MOREAbdulrahman Algosaibi, chairman of Specialized Industrial Casting Company (SICAST), talks to The Energy Year about the drivers behind the company’s investment to set…
READ MOREChristopher Seymour, Mott MacDonald’s head of strategy and investment for the Middle East, Africa and South Asia, talks to The Energy Year about the role of gas in…
READ MOREAnil Abraham, CEO of APT Global, talks to The Energy Year about the company’s most important verticals and how the UAE has become an ideal hub for ship refurbishment,…
READ MOREMaxwell Oko, Eraskorp Nigeria’s group CEO and executive vice-chairman, and Florence Okoli, its group managing director, talk to The Energy Year about Eraskorp’s…
READ MOREIndia has unveiled a new green policy that sets industry targets for hydrogen consumption, the state announced on Friday.
The policy involves all state-run oil and…
READ MOREIndia’s government plans to launch a USD 2.2-billion green hydrogen incentive programme, Reuters reported on Tuesday.
The proposed initiative aims to cut the price…
READ MORESearcher Seismic has released new 2D seismic data following the launch of India’s latest offshore oil and gas bid round, the Australian geoscience entity announced on…
READ MOREBashir Jamoh, director-general and CEO of the Nigerian Maritime Administration and Safety Agency (NIMASA), talks to The Energy Year about the agency’s role in…
READ MOREIndia has put 26 oil and gas blocks spread over nine basins up for auction, the Directorate General of Hydrocarbons announced on Tuesday.
Of the 223,000 square…
READ MOREIndia has awarded contracts for 31 discovered small fields (DSFs) and four coal bed methane blocks to ONGC, Cairn Oil & Gas and 12 other local entities in its latest…
READ MORELarsen & Toubro has commissioned a green hydrogen plant at its AM Naik engineering complex in Hazira, India, the indigenous engineering giant announced on Saturday.
…
TotalEnergies has signed an agreement with Indian conglomerate Adani Group to acquire 25% interest in the world’s largest integrated green hydrogen company, the…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.