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One Day – One Country: India

India Key Projects and Business Highlights

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As most of the emerging countries, India wanted to preserve its oil and gas resources access and related revenues to its national state owned and private oil companies Indian Oil Corporation (IOC), Gujarat State Petroleum Company (GSPC), Oil and Natural Gas Corporation (ONGC), Reliance Industries Ltd (RIL).

As a consequence, in India as in some other countries such as Argentina or Mexico, the foreign investments dried up leaving the existing fields to mature and turn naturally to depletion up to the situation that India must consider to import more and more oil and gas to feed its booming economy.

Indian_Projects_MapIn this context, the India Government moved to pragmatism and since last year is favoring alliances and partnership through balanced production sharing agreements (PSA) between Indian and foreign companies such as BP, ConocoPhillips, or Shell.

With these joint ventures between local and foreign companies, India is targeting to re-develop the Krishna Godavari Basin offshore east India and the South Basin Gas field Offshore Numbai on the west coast of India.

In parallel to revive its upstream activities, India remains one of the most active country on the refining and petrochemical industries.

In refining the investments intend to reduce transportation fuels emissions in order to meet the international standards.

On the petrochemical sector, each Indian state is racing to become self-sufficient for the largest scope of hydrocarbons products to supply its manufacturing industry.

Midstream appears also as a very promising sector in India since the Government is planning to revamp and expand the existing network of pipeline systems in order to distribute the natural Gas all over the country as the most competitive feedstock of the local petrochemical industries.  

India to triple LNG Import Terminal capacities by 2017

IOCL_Ennore_LNG_Terminal_Project1Gujarat State Petroleum Company (GSPC), Adani Enterprise (Adani) and Indian Oil Corporation (IOC) are working on moving forward their respective liquefied natural gas (LNG) import terminal projects in order to meet the Indian demand for gas in 2017.

These projects are part of a series of eight LNG import terminal and regasification facilities currently under evaluation by the India Ministry of Petroleum and Natural Gas.

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BP and Reliance to spend $1 billion into KG-D6 Block

BP_Reliance_KG-D6_production-Sharing-ContractsOn August 7th, 2012, BP and Reliance Industries Ltd (RIL) received from the India Oil Ministry the conditional approval for the production compensation of the declining offshore KG-D6 gas field.

This decision was accelerated after three years of discussions in front of the depletion speed the matured KG-D6 natural gas field.

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Reliance to gear up on $11 billion Jamnagar expansion

Reliance_Jamnagar__Refinery_ExpansionReliance Industries Ltd (RIL) is making major steps in the expansion of its refinery located in Jamnagar, Gujarat, India

With $11 billion capital expenditure, Reliance is planning one of the brownfield largest expansion of energy and petrochemical projects globally.

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For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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