According to the "Oil Exploration and Production Market in India 2014-2018" report 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.
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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.
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- Cairn India Ltd.
- Oil and Natural Gas Corporation Ltd.
- Oil India Ltd.
- Reliance Industries Ltd.
Other Prominent Vendors
- Adani Welspun Exploration Ltd.
- BP plc
- Bharat Petroleum Corporation Ltd.
- British Gas
- British Petroleum Ltd.
- Essar Oil 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
Key Market Driver
- Availability of Abundant Reserves
Key Market Challenge
- Imbalance in Energy Demand and Supply
Key Market Trend
- Growth of the Oil and Gas Sector through NELP
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?