Our presence at ADIPEC Exhibition and Conference provided a remarkable platform to engage with potential partners who share our vision of transforming energy sustainably. Sharing their views with Upstream, our leaders - Hitesh Vaid, Chief Financial Officer and Viraj Nangia, Director – Strategy & Planning, discussed our growth strategy and exploration plans to achieve Cairn’s vision of doubling production for India’s energy security.
As we continue to explore India’s untapped hydrocarbon potential, it’s imperative that we partner with global experts, service providers and talent to help us attain our vision. Leveraging our large exploration portfolio of 62 blocks across the nation, we are committed to fulfilling India’s rising demand for oil and gas. We are using conventional and unconventional projects such as tight oil, deepwater drilling and shale to enhance production and conduct aggressive exploration.
Cairn is a significant part of India’s story towards achieving self-reliance and we are committed to driving growth in the oil and gas sector in collaboration with global partners. Watch our insightful interview and learn how we are building a sustainable energy future in India- https://lnkd.in/gjcAffuM.
Video Credits: Upstream
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Kane Oil and Gas with another limited is one of the largest private sector oil and gas player in India. And for us our vision is to double our production, take a production to 50% of India's production from current 25%. And Adipic is the global largest oil and gas conference. So it's an opportunity for us to present what we want to do how we want to. To meet partners, have potential opportunities to farming, farm out. So, So what better place than to come here and be part of this conference? Absolutely. You know, we would like the world to know what we're doing and India is the place to invest. We're very hungry for the energy and what a great platform it can be. Then Adipic, where everyone is there around the globe, supply chain business partners around the world's are there. So they had a very fruitful discussion that we've met. A lot of global, global players, not only the the service partners, business partners and the operator partners. It has, yeah. So that was the whole motif of being on Adipic. India is, you know, hungry for energy. The objective of you know, us is to, you know, ensure that India's need for energy is fulfilled. And in that context, what we are trying to do is build a portfolio. We have acquired large exploration portfolio in the country. We are trying to acquire more portfolio in the new bid rounds. And in that context, we see that there is a natural partnership which can happen around this region. And so we are looking at opportunity to bring in partners for JV operations, partners for farming business partners who can provide us services, equipment. So it's a mutual beneficial, you know opportunity for us as well as the region. So we are looking forward to that partnership in this region. I mean, absolutely right. I mean India has the biggest largest population, Middle East has the largest resource and reserves of oil and gas. And I think that partnership is natural, right. And we're just next, you know it's. Just across 2000 kilometers. So we just have to cross the Arabian Sea, that's it, right. So I think the Olin gas, which Middle East has, right, I think we can really absorb and we can benefit from that energy. Energy is needed by everyone. And yeah, so that's the partnership I think can flourish between Middle East and India. From teen point of view, as I said, you know, we are looking for growth and our growth is going to come from several aspects, one we are focusing on. On title technologies, we are focusing on unconventional opportunities. We are focusing on drilling, onshore, offshore. So there is a large amount of investments which we are looking forward to. Our CapEx plan over the next 3-4 years is around 3 to $4 billion. As I said, we already have 62 blocks. We intend to add more. So there's a large opportunity waiting for, you know, for exploitation in India and we look forward to such partnerships and this is an opportunity to build that partnership. And take the India story forward. So we are here for that India opportunity. Yeah, we want to be a dominant energy player of India. So we will, we want to grow our production multi folds, whatever we produce, we want to generate a lot of cash for our cash flow for our shareholders and whatever we produce, you want to produce sustainability, right. So that's sustainable is very important for us. And this is where we are working towards not only growth in the production but also working. Towards achieving net 0 by 2030. So we have committed that we will be net zero by 20-30. We have already made commitments all our electricity needs, what can users would be on renewables commitments, CapEx commitments have been done. We will be live on that very, very soon in the next six months. We're also doing feasibility, pre feasibility study on other other things on neck to power than utilizing the carbon for generating. A lot of carbon, carbon fuels, then also using that carbon for our enhanced oil recovery and our Rajasthan fields. So we have laid down a strategy on how we're going to achieve the net 0 by 2030 and the commitments have been done as well on on that point because you know, we are walking the talk. I do want to mention that. Doctor ODMP gain has been a part of ODMP. ODMP is a renowned organization. So Kane Oil and Gas is the only player, Indian player to be part of this. As part of this program, we would be disclosing our methane emissions every year to this organization. And I think this is where our our commitment comes in, right that look, we will disclose our our emissions and every year. Till 2030, till we are net zero. So we are quite proud of proud of this.
Dr. Sudhir Kumar Mathur, Head of New Ventures and Portfolio at Cairn Oil & Gas, while taking forward the ‘Energising India’ vision at the GeoIndia Conference & Exhibition, shared valuable insights during a plenary session on the evolving landscape of India’s hydrocarbon sector.
He highlighted the vast untapped potential of Indian basins, emphasizing that substantial undiscovered resources remain to be unlocked, presenting a significant opportunity for growth. By leveraging cutting-edge technologies and government incentives, he believes both reserves and production can be increased significantly which, in turn, could play a crucial role in strengthening India’s energy security.
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UrjaVarta 2024 will kick off the energy talk with strategic session on “Navigating New Frontiers: Unveiling India’s Exploration Potential” on 11th July 2024. The revered panellists will explore into how India’s untapped exploration potential can be harnessed by leveraging technology and innovative business models. The panel discussion is set to cover aspects like resource potential of Indian basins, emerging opportunities, government support and technological advances in exploration sector. The Leaders Lounge at Bharat Mandapam is the place to be at!
More information on https://urjavarta-dgh.org/Ministry of Petroleum and Natural Gas Govt of India#UrjaVarta2024#oilandgas#EnergyforToday#EnergyforTomorrow
As India takes significant strides towards energy self-sufficiency, the upstream oil and gas sector is positioned for major growth. With only 10% of India's sedimentary basins currently explored and $100 billion worth of investment opportunities projected by 2030, the potential for expansion in the exploration and production (E&P) space is immense.
At Parveen Industries, we are proud to contribute to this vision by providing advanced upstream equipment, from wellheads to pressure control systems, built to meet the highest global standards. As India looks to increase its exploration acreage to 1 million sq. km. by 2030, our commitment to delivering quality and innovation has never been more crucial.
In a recent article, our Director, Mr. Prakash Kumar Mittal, shares valuable insights into India's evolving energy landscape and how Parveen Industries is supporting the nation's ambitious goals for the upstream segment. From investment opportunities to the latest government reforms, the article explores how our industry can collectively drive energy independence.
Read the full article to learn more about the opportunities in India’s oil and gas sector and Parveen Industries’ pivotal role in powering the future.
https://lnkd.in/dWuNmq4B
The future of India’s energy landscape is bright, and Parveen Industries is ready to support this transformative journey with the technology and expertise needed to unlock the nation's full potential.
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🇮🇳 India's Upstream Oil & Gas Industry Updates 🇮🇳
The Indian upstream oil and gas sector is undergoing significant changes as the country strives to enhance energy security and boost production. Here are some key highlights:
🔍 Increased Exploration Activities: The government has been actively promoting exploration and production through the Open Acreage Licensing Policy (OALP). Recent licensing rounds have attracted interest from both domestic and international oil companies, aiming to discover new reserves and increase production.
🏗️ Major Discoveries: Recent discoveries in the Krishna-Godavari basin and the Cambay basin are promising, with companies reporting substantial gas finds that could help meet domestic energy demands and reduce imports.
📈 Investment in Technology: To optimize production, Indian companies are investing in advanced technologies such as enhanced oil recovery (EOR) and digital oilfield solutions. This shift towards innovation aims to improve efficiency and reduce operational costs.
🌿 Focus on Sustainable Practices: The government is also emphasizing sustainable practices in the upstream sector, encouraging companies to adopt greener technologies and invest in renewable energy sources alongside traditional oil and gas operations.
🤝 Collaboration with Foreign Partners: India is fostering partnerships with international oil companies to enhance exploration efforts and bring in expertise. These collaborations are expected to accelerate the development of discovered fields and improve production rates.
As India continues to evolve its upstream sector, these developments highlight the country’s commitment to achieving energy self-sufficiency and transitioning towards a more sustainable energy future.
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Impressive!