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Foreign investors will have
drilling-related services are likely to account for 35 - 40% of
the total spend followed by oilfield equipment with 18 - 20% opportunities to invest in projects
and completion and stimulation equipment and services
9
with 18 - 20% . worth USD 300 bn in India, as the
• The Government has envisaged developing the national country looks to cut reliance on oil
Gas Grid. at present about 16,788 Km natural gas pipeline
is operational and about 14,239 Km gas pipelines are being imports by 10 per cent by 2022
developed to increase the availability of natural gas across
the country .
10
• India has also become a net exporter of petroleum products policy to enhance exploration activities, attract domestic
by investing in refineries designed for export, particularly in and foreign investment in unexplored/unallocated areas of
Gujarat . sedimentary basins and accelerate domestic production of
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• Gas based economy is being developed by connecting major oil and gas from existing fields .
cities with green highways. The highways will have vehicles
running on CnG and LnG with adequate refuelling stations. Conclusion
• The two world-class gas hydrate reservoirs discovered in
ultra-deep waters of KG basin under national gas hydrate With rising global energy demand, the oil and gas industry has a wide
programme-2. This has opened new avenues for alternative range of challenges and opportunities across the upstream, mid-
resources. stream, downstream and oilfield services sectors. Rising demand for
• abundant opportunities are present for the development of oil & gas in India is expected to drive investments in refining capacity
underground coal gasification, coal to liquids, shale gas etc. expansions, upstream production, natural gas pipelines and LnG ter-
• The Government has introduced a well-organised system minals.
of subsidy delivery to LPG consumers through PaHaL. The With the objective of reducing crude imports by 10% and making
initiative is to rationalise subsidies based on the approach energy available to all by the year 2022, the Government of India (GoI)
to cut subsidy leakages. as on 6 december 2018, more than has an intense focus on increasing domestic production by 10%, at-
230 Mn LPG consumers have joined the PaHaL (Pratyaksh tracting foreign direct investment (FdI) in the oil and gas sector,
Hanstantrit Labh) Scheme. PaHaL has entered into Guinness building Greenfield and Brownfield refineries, developing pipelines
book of World record as a largest direct Benefit Transfer and LnG terminals, etc. This commitment by GoI is manifested in the
scheme. form of several initiatives in the oil and gas space.
• The Government has commenced supply of BS-VI vehicles in
nCT of delhi from april 2018 and the rest of the country will
transition to BS-VI by early 2020 and given the award of the 1 PPaC
City Gas distribution (CGd) licenses, soon 75% of the coun- 2 Ministry of Petroleum & natural Gas, annual Report 2017-18
try will have gas retail network. 3 PPaC (data as on april 2019)
• The Oil Ministry plans to set up bio-CnG (compressed natu- 4 Energy statistics 2019
ral gas) plants and allied infrastructure at a cost of InR 7,000 5 PPaC
crore (USd 1.10 Bn) to promote the use of clean fuel. 6 https://pib.gov.in/newsite/PrintRelease.aspx?relid=191671
7 https://pib.gov.in/newsite/PrintRelease.aspx?relid=190670
• Liquefied natural Gas (LnG) supply is forging ahead on both
8 iBEF
coasts with 10 new R-LnG terminals (5 on west and 5 on east
9 invest india
12
coast) coming up . Together with the four existing termi-
10 http://pib.nic.in/newsite/PrintRelease.aspx?relid=188356
nals of capacity 26.3 MMTPa, overall capacity will reach 72.5 11 iBEF
MMTPa. 12 invest india
• India approved major reforms in exploration and licensing 13 https://pib.gov.in/newsite/PrintRelease.aspx?relid=190667

EnErgising sustainablE & ProsPErous FuturE 57