Bright Future for Indian Oil and Gas
The scope for the Indian oil and gas industry is vast, with many prospective onshore and offshore field developments across the country. A projected cumulative investment of USD 40 billion over the next five years is expected to result in a ten percent increase in domes- tic production. A significant percentage of this growth is likely to be from deepwater and ultra-deepwater developments.
India is also a signatory of the Paris Agreement and has committed to reducing carbon emissions by up to 35 percent from 2005 levels by 2030. The combination of an increasing need for energy and an emphasis on minimising environmental impact makes technological development a key factor in the growth of the Indian oil and gas industry.
3. www.nishithdesai.com – Oil and Gas Industry in India, Legal, Regulatory and Tax, Feb 2018
4. https:// www. uio. no/ studier/ emner/ matnat/ math/ MEK4450/h11/undervisningsmateriale/modul-5/MEK4450_ Flow Assurance_ pen sum -2. pdf.
Figure 5 – First subsea gas compression facility. Source – Aker Solutions
Figure 4 – Subsea modules installed on sea bed with ongoing tie-in operation. Source – Aker Solutions