India is one of Asia’s key locations for the oil and gas industry. With double digit demand growth for oil set to outpace China for the third year in a row and a recent licensing round encouraging new players, India is attracting significant foreign investment in its effort to unlock almost US$11 billion worth of reserves and lower its reliance on imported crudes.
The rapid growth of the Indian oil and gas sector offers significant opportunities for the global industry, according to Sandvik, a developer and producer of advanced stainless steels, special alloys, titanium and other high-performance materials.
Last year the Indian government announced plans to invest US$20 billion in deepwater natural gas developments in the next few years, targeting over 20 TcF of reserves. This creates huge prospective for industry players to explore opportunities in the market.
Benno Wagner, Regional Sales and Marketing Manager Oil & Gas, Asia Pacific, Sandvik, said: “India is a key focus for us this year as we see enormous potential for growth due to the extent of its untapped oil and gas reserves and strong support from the government. Advanced technologies will serve as a key lever to facilitate the exploration and production of oil and gas located in some of India’s difficult-to-access areas.”
Sandvik’s Indian headquarters are located in Pune. This facility also houses a world-class research and development centre, which was launched recently to support future business development in the country. Additionally, the company has a production unit based in Mehsana, Gujarat, which produces tubing in sizes ranging from ½” to 2 ½”.
Sandvik has been experiencing positive growth in the Indian market, where it is involved in the country’s first foray into exploring East Coast deepwater resources. The company currently provides customers with products to enhance exploration, such as in chemical injection and well control.
The SPE India event will focus on ‘Managing E&P Business in the Changing Environment’, and will incorporate a high quality, multi-disciplinary technical conference with an exhibition showcasing innovative technologies in the oil and gas industry.
At Sandvik booth located at Stand #32, visitors can explore the Swedish engineering group’s high-performance materials portfolio, which includes a widerange of corrosion-resistant products such as control lines that help overcome the most demanding environments.
Sandvik advanced materials maximise production with quicker, safer and more efficient processes in the world’s most demanding environments. Sandvik is setting new industry standards with its next generation high performance materials to meet the operational demands presented by the pressure in extreme water depths below 3,000 metres, and at temperatures above 204°C.
Benno Wagner added: “The current energy landscape where demand is growing, is encouraging the industry to seek out opportunities in increasingly challenging environments such as deepwater. This event enables us to engage in conversations with regional experts and professionals, showcase our innovations in leading corrosion-resistant products and present our expertise in high-performance materials.”