Massive opportunities in Indian oil & gas sector [Jan 2012]

The Indian Government sees tremendous investment opportunities in the oil and gas sector of the country. Speaking at the First Ministerial Session of WPC in Doha recently, Indian Petroleum Minister S Jaipal Reddy underlined that the prospective of Indian sedimentary basins, a large unexploited resource base, scope for infusion of technology across the value chain, expanding pipeline infrastructure, upcoming city gas distribution networks, availability of skilled manpower, well established independent judiciary and a stable democratic government are the key attractive features for investment in the country.
Several Fortune 500 companies in public and private sector with high technological capabilities provide great opportunism to forging partnerships. The Minister pointed the progress made across hydrocarbon value chain. “Our hydrocarbon sector offers immense opportunities for investments and reaping benefits. The liberal and investor-friendly policies, a developing economy with a fast growing energy market have made many companies to take notice of the potential”, Mr. Reddy comments.
“Realising that growing Indian economy requires massive energy inputs; LNG regasification capacity is being expanded. India looks for long-term sourcing of LNG with the producers of LNG. Indian companies are also looking for investment opportunities in LNG plants in producer nations. Qatar has been a long time partner country in this area and India is keen to have more such relationships”, informed Mr. Reddy.
The economic pressures the world is experiencing have affected the progress in several developed and developing nations. Recovery from these pressures and getting on the path of development is taking longer time. India, being the largest democracy and a major energy consumer of the world, faces the uncertainties of global energy market in terms of oil prices and its impact on inflation.

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