DGH organized an interactive session on India – A new E&P Paradigm in Aberdeen, Scotland

Sarkaritel
By Sarkaritel September 6, 2017 23:30

DGH organized an interactive session on India – A new E&P Paradigm in Aberdeen, Scotland


Aberdeen, 5th September, 2017 In continuation to the Interactive Session organized by on 4th September 2017 in London, Directorate General of Hydrocarbon (DGH) organized an interactive session on ‘India – A new E&P Paradigm’ in Aberdeen (Scotland) also known as the ‘Oil Capital of India’. The interactive meet was organised as part of the SPE Offshore Europe 2017 which is a biennial conference and exhibition that takes place in Aberdeen and focuses on upstream oil and gas industry.
The delegation was led by Mr. Atanu Chakraborty, Director General, Directorate General of Hydrocarbon and included Mr. Amar Nath, Joint Secretary (Exploration), MoPNG. The intent of the interactive meet organised by DGH was to showcase the major policy reforms, new developments and various emerging investment opportunities in the revitalised Indian E&P sector, focussed on Open Acreage Licensing (OAL) program under  the Hydrocarbon Exploration Licensing Policy (HELP). The interactive meet was well attended by over 130 executives from various E&P players, service providers and investors.
The event began with a welcome address by the Ms. Anju Ranjan, Consul General of India, Edinburgh. She welcomed the gathering and emphasised on a greater India – UK collaboration in oil and gas sector. Subsequently, the event opened with an engrossing film on HELP followed by an opening address by Mr. Amar Nath, Joint Secretary (Exploration). He highlighted that HELP brings forth a forward looking, market driven, transformative regime implemented through the Open Acreage Licensing (OAL) programme, which offers tremendous opportunities to investors as they can choose an area that they feel has adequate geological prospects
In his keynote presentation, Mr. Atanu Chakraborty, gave insights on HELP drawing the attention of the audience to the enormous investment opportunities emerging in the Indian E&P sector. Among various such opportunities, the Open Acreage Licensing (OAL) is at the forefront wherein India is offerings almost 90% of its entire sedimentary basinal area to potential investors for E&P activities. OAL will allow E&P companies to carve out blocks of their choice and submit an Expression of interest (EoI) which would be then offered through a transparent and time bound international competitive bidding process.
The presentation also highlighted the salient features of HELP such as unified license for all types of hydrocarbons, simple revenue sharing contract model, full marketing/ pricing freedom and minimum regulatory burden. He also highlighted that along with OAL, India is also planning to soon launch contract areas for the Round II of Discovered Small Field Bids by end of 2017. Further, it was informed to the participants that the government is working on policies that will allow NOCs to collaborate with global E&P companies and technology players to infuse advance E&P technologies, risk investments and best-in class field management practices
The interactive session concluded with vibrant discussions between the participants and the government delegations. The discussions covered wide range of issues including suggestion by the participants on increased India-UK collaboration.  The government delegation also visited to the Exhibition of various global Oil and gas companies such as ABB, Expro, SMD and Petrofac and undertook one on one interactions to understand various state-of-the-kind technologies that could be useful for Indian E&P industry. This interactive session is expected to go a long way in encouraging investments in OAL program under the HELP regime. More interactions are planned.
Prior to this event, the delegation participated in the session on opportunities in India organized by Department of International Trade (DIT), UK, where talks were delivered by DG and JS to put forth the exploration and development work in progress in India giving rise to many opportunities for all companies in the E&P supply chain to make their mark in the dynamic Indian E&P sector.
Sarkaritel
By Sarkaritel September 6, 2017 23:30