The Oil and Gas sector plays a significant role in the economic and
political scenario of India. The high economic growth over the past few
years, the increase in industrial development, and the growing
population have created much concern for India’s energy scenario. India
accounts for only 0.5 percent of the oil and gas resources of the world
while accounting for 15 percent of the world’s population. This makes
India heavily reliant on imports of crude oil and natural gas. India’s
crude oil production has not seen any substantial growth in the last 10
or more years, whereas its refining capacity has grown by more than 20
percent over the last five years. Oil consumption is growing at about
4.1 percent per year and natural gas consumption at 68 percent per year.
Analysts forecast the Oil Exploration and Production market in India will grow at a CAGR of 2.1 percent over the period 2014-2018.
The
Report recognizes the following companies as the key players in Oil
Exploration and Production Market in India: Cairn India Ltd., Oil and
Natural Gas Corporation Ltd., Oil India Ltd. , Reliance Industries Ltd.,
Adani Welspun Exploration Ltd., BP plc, Bharat Petroleum Corporation
Ltd., British Gas, British Petroleum Ltd., EssarOil Ltd., Gujarat State
Petroleum Corp., Hindustan Oil Exploration Company Ltd.., Indian Oil
Corporation Ltd., Jubilant Energy Ltd., Oilmax Energy, Selan Exploration
Technology Ltd., Shiv-vani Oil, TATA Petrodyne Ltd.
The New
Exploration Licensing Policy (NELP) was formulated by the Indian
government to provide an equivalent stand to both public and private
sector companies in exploration and production of hydrocarbons under the
execution of the DGH. So far from round one to nine, 302 blocks have
been allotted for exploration by various companies. Of these, 128 have
resulted in oil and gas discoveries. An investment of US$20 billion has
been committed on blocks given out, though half of this investment has
been on Reliance Industries' KG-D6 block alone. The investment is likely
to go further with the development of fifth, sixth, and seventh rounds
to be completed by this year. The 10th round of NELP was unveiled in
January 2014, under which a total of 46 oil and natural gas blocks have
been offered for exploration.
Covered in this Report
This
report covers the present scenario and the growth prospects of the Oil
Exploration and Production market in India for the period 2014-2018. The
Oil Exploration and Production market in India can be segmented into
two divisions: Onshore and Offshore. These are the two types of oil
exploration and production activities undertaken in India.
Oil
Exploration and Production Market in India 2014-2018, has been prepared
based on an in-depth market analysis with inputs from industry experts.
The report focuses on India; it also covers the Oil Exploration and
Production market landscape and its growth prospects in the coming
years. The report also includes a discussion of the key vendors
operating in this market.
According to the report, one of the
major drivers in this market is the growing energy demand in the
country. The increasing consumption of energy in India has a positive
influence on the demand for oil and gas, and this is expected to
increase during the forecast period. Another major driver is the
favorable government policies for the Oil and Gas sector.
Further,
the report states that one of the major challenges in this market is
the growing imbalance between energy demand and supply. The net
production of crude oil has been quite low when compared to its demand.
Key Vendors
- Cairn India Ltd.
- Oil and Natural Gas Corporation Ltd.
- Oil India Ltd.
- Reliance Industries Ltd.
