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As one of the fastest growing economies in the world, security is the buzz word when it comes to energy. The Indian government is tackling the issue of the increasing thirst for energy head on with its New Exploration Licensing Policy (NELP) rounds, auctioning off rights for exploration blocks, which are showing increasingly positive results in getting the private sector more involved in the country’s increasing demands. One of the success stories of the NELP rounds has been the KG-D6 deepwater block in the Krishna-Godavari Basin, a complex series of gas reservoirs along with one oilfield, which has helped local giant Reliance Industries cement itself as a rising star in the international global energy industry. Offshore exploration is a growing market, with a number of international players and local companies looking to the waters of India for new opportunities.
With the view to helping the growing industrial sector within the country, the government is pushing natural gas a cleaner alternative to the coal-fired power stations. This surge in gas demand has led to increase in infrastructure projects including Reliance Gas Transport Infrastructure’s east-west pipeline, a 1,460-kilometre project transporting gas from the Krishna-Godavari Basin to the state of Gujarat. Indian engineering, procurement and construction firms have also been making a name for themselves overseas, boosted by government support and a strong knowledge base from inside the country.
Downstream projects are also reflecting the growth of India with a large number of projects being carried out by public-sector companies and a handful of private firms working to push India into the position of the fourth-largest refiner in the world. To find out more about how India is taking the energy industry by storm, and to read the viewpoints from politicians and business people involved in India’s unprecedented growth read The Oil & Gas Year, India 2010: The Who’s Who of the global energy industry.