India, the world's fourth largest energy consumer, plans major energy infrastructure investments to keep up with increasing demand - particularly for electric power.
India is attempting to limit its dependence on oil imports somewhat by expanding domestic exploration and production.
India has high focus on deep water developments. Several Norwegian firms are involved in the deep water developments,like Aker Solutions on Reliance large gas development. The Indian government is trying to attract international oil companies with frequent licensing rounds.
The India page provides information on the market, an overview of planned activities, links to key actors in and presentations from INTSOK events.
About India
• Population: 1,2 billion
• India is the fourth largest energy consumer in the world
• Dependent on imports to meet its petroleum demand.
• Natural gas demand expected to grow significantly
• Growing exploration in deeper waters
• Awarded more than 200 exploration contracts in the last 10 years
Oil
The largest player is state-owned Oil and Natural Gas Corporation (ONGC). The role of private companies is increasing. The largest private actor is Reliance industries, India's largest company. Most of India's crude oil reserves are located offshore, in the west of the country, and onshore in the northeast. Substantial reserves also exist in the Bay of Bengal and in Rajasthan state. The largest oil field is the offshore Mumbai High field, located north-west of Mumbai and operated by ONGC.
Oil overview 2010
• Proven oil reserves: 9 billion barrels
• Oil production: 0,8 million barrels per day
• Oil consumption: 3,3 million barrels per day
Major oil producers
• ONGC accounts for about three-quarters of India’s oil production
Natural Gas
The bulk of India's natural gas production comes from the western offshore regions, especially the Mumbai High complex, though fields in the Krishna-Godavari (KG) are increasingly important.
Natural gas demand is expected to grow considerably, largely driven by demand in the power sector. The power and fertilizer sectors account for nearly three-quarters of natural gas consumption in India. Natural gas is expected to be an increasingly important component of energy consumption as the country pursues energy resource diversification and overall energy security.
India is increasingly importing LNG to meet the demand.
The gas industry
• Proven natural gas reserves: 2,8 trillion cubic meters
• Natural gas production: 50 billion cubic meters
• Natural gas consumption: 61 billion cubic meters
Major gas producers
• ONGC
• Reliance
Main Markets
Other Priority Markets
