Global energy companies – Gazprom, Vedanta, Petrofac, Hardy Oil keen to expand operations in India’s oil and gas sector

Pradhan, who inaugurated the roadshow in London for India's DSF bidding round, met up with the heads of companies including CEO, Cairn Energy Simon Thomson, CEO, Marketing and trading, Gazprom, Vitaley Vasielev, London Stock Exchange's, Jasmine Arora, Magna energy CEO Mike Watts, CEO, Hardy Oil and Gas Plc, Ian MacKenzie, CEO, Petrofac Ayman Asfari, Dev Sanyal, Executive VP and Sashi Mukundan, Regional President, India Head, BP, Rahul Dhir of Delonex Energy and Louis Taylor, CEO of UK Export Finance.

Global energy companies – Gazprom, Vedanta, Petrofac, Hardy Oil keen to expand operations in India’s oil and gas sector

Leading global energy companies including Gazprom, Vedanta, Petrofac, Hardy Oil are keen to expand their operations in India’s oil and gas sector.

Optimistic on India’s oil and gas sector, the heads of these companies met up with India’s petroleum minister Dharmendra Pradhan and expressed interest to expand their investments in the country’s oil and gas sector.

“CEO of Gazprom Marketing & Trading Vitaly Vasielev appraised their plan to expand business in India,” Pradhan tweeted on Tuesday.

“Ayman Asfari,CEO Petrofac,a major EPC company with 3000 employees based in India showed interest to invest in India,” the minister said in another tweet.

Pradhan held meetings with the heads of leading global energy companies and financial institutions in London, while inviting them to participate in India’s discovered Small Fields Bidding Round – 2016, where 67 discovered fields are being offered for investment.

Pradhan met with the heads of companies including CEO, Cairn Energy Simon Thomson, CEO, Marketing and trading, Gazprom, Vitaley Vasielev, London Stock Exchange’s, Jasmine Arora, Magna energy CEO Mike Watts, CEO, Hardy Oil and Gas Plc, Ian MacKenzie, CEO, Petrofac Ayman Asfari, Dev Sanyal, Executive VP and Sashi Mukundan, Regional President, India Head, BP, Rahul Dhir of Delonex Energy and Louis Taylor, CEO of UK Export Finance.

Pradhan also met with Chairman Vedanta group, Anil Agarwal & CEO Tom Albanese who are keen to invest in India’s DSF bidding round.

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“Chairman Vedanta group Mr Anil Agarwal & CEO Mr Tom Albanese expressed interest to invest in the bidding round,”Pradhan tweeted after the meeting.

On his part, the minister while interacting with the financial institutional investors and global energy companies discussed the huge energy market in India that provides unique opportunity to invest in Indian oil and gas sector.

Pradhan said these 67 Small Fields were discovered long back but could not be monetised mainly due to restrictions in government policies.

Small fields provide an investment opportunity in already discovered fields with no signature bonus, no requirement of prior technical experience and no mandatory work programme. The new DSF policy is based on revenue sharing contract model with the aim of simplifying the operating regime and making it more transparent.

Pradhan said that Ministry of Petroleum & Natural Gas is looking at London and UK for bringing in not only investment but also innovation and new technology to improve oil and gas production from these fields. He assured the investors of all possible support.

Anupama Airy
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Anupama Airy
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