Upstream Ahead – Oil & Gas Exploration & Production – Towards Vision 2050’ Virtual Summit on February 2021

By Sarkaritel February 16, 2021 19:16

The first edition of ‘Upstream Ahead – Oil & Gas Exploration & Production – Towards Vision 2050’ summit was held on February 11-12, 2021, under the aegis of MoPNG and DGH, providing a platform for all key stakeholders to come together and drive powerful solution-based dialogues for a smooth way forward. Hosted by ONGC, OIL, Cairn Oil & Gas(Vedanta Ltd.), and HOEC, the summit witnessed six Insight sessions, five Spotlight sessions, two High-Intensity Discussions Chaired by the Secretary, MoPNG and Ravi Agrawal, Additional Secretary, MoEF&CC, where Dr. R.B Lala, Member Secretary also gave his remarks and two Special Interactive Sessions on Gender Diversity & Inclusion, and Youth in the Energy Sector.

The summit was also supported by mid/downstream Oil & Gas sectors viz: GAIL (India) Ltd, IOCL, IGGL, RIL, Antelopus Energy, Oilmax Energy Pvt Ltd, KIRI, Shanti GD Ispat etc.

The one-of-its-kind virtual summit hosted intellectual panels of more than 70 speakers from the Oil & Gas Industry across the globe, along with domain experts from Financial/Academic Institutions, Regulatory authorities & Central Ministries, Service providers, Consulting firms, and Institutions like NITI Aayog, World Energy Congress, MNRE, DPIIT, FICCI, etc. with registered participants reaching a grand number of 7,000 (+). This magnificent virtual summit, well accommodating the needs of any offline conclave, was successfully organized by Social Friendly.

The summit of world class standard may be the biggest ever event held for Oil & Gas sector with fruitful discussions involving all Stakeholders with a commitment of keep the journey on going towards Vision-2050.

In the backdrop of Honourable Prime Minister’s clarion call for Atmanirbhar Bharat, seeking progress in the upstream sector is crucial to reducing our nation’s import dependence. With large resources unexplored, ongoing onshore and offshore surveys, and data availability for better analysis, the sector is provided with immense possibilities and requires all stakeholders to get on board as a team in this journey towards Vision 2050, said Shri Tarun Kapoor, Secretary, MoPNG.

According to Shri SCL Das, DG, DGH, the discourses of this well-structured summit aid to deliver in short packages as part of a continuum, embedded in the commonly shared belief about the future. The event is a curtain-raiser, engaging all the stakeholders and bringing a ‘Thinking Element’ into the whole exercise, he added.

Numerous positions and points of view have been outlined over the course of two days, covering the whole spectrum of the Oil & Gas Exploration & Production sector.

As elaborated by Dr. Anand Gupta, ADG(Development), DGH, an upheaval of the E&P sector through improved productivity can be achieved through incentives for early monetization and adequate policy reforms. Shri PinakadharMohapatra, Antelopus Energy, has added value through his insights on the exploration opportunities and key issues to move towards zero idling of reserves.

The need for a targeted approach employing Play-based explorations supported by seismic and non-seismic technologies and digitalization initiatives has been voiced out by Dr. C Laxma Reddy, ADG(Exploration), DGH, and echoed by the eminent panellists unequivocally. Deployment of advanced tools like Gravity Gradiometry along with 4D seismic technology and data analytic tools can boost the efforts towards Vision 2050, opined Shri CSV Sandilya, ONGC, and Shri Biswanath Ghosh, Cairn Oil & Gas (Vedanta Ltd.)

Fostering the growth of domestic OFES industry, to make India self-reliant in E&P sector equipment, formulating Procurement Plans are vital to unveil the opportunities lying ahead for indigenous manufacturers and MSEs, harmonizing with the Govt. policies under Atmanirbhar Bharat Abhiyan, as emphasized by Shri Om Prakash Singh, Director(T&FS), ONGC.

Shri Pankaj Kumar Goswami, Director (Operations), OIL called upon a partnership-driven model for digital transformation to boost profitability for Oil & gas companies, and also help reduce emissions. However, transparency, public data sharing, data security, and data residency are key aspects of concern that need to be addressed.

The oil & gas industry is subject to a persistent challenge of improving its environmental footprint. A high-intensity discussion on proactive steps taken by MoEFCC for ease of conducting Oil & Gas E&P Activities has shown a way forward towards Vision 2050, reflecting a committed collective responsibility towards the improvement of the environmental quality of life.

Another such discussion has evaluated the need to intensify exploration, monetize discoveries and maximize recovery by innovation, conducive policy & fiscal regime, and new business models, with 50% of the country’s O&G demand estimated to be met indigenously by 2050.

Dr. Alka Mittal, Director (HR), ONGC very aptly stated that gender diversity is non-negotiable. A panel of experts led by her strongly believed that the energy sector needs to shift the dial by driving efforts to gender sensitization and improving gender ratio across all levels to create a diverse and inclusive workforce equipped with the required knowledge and skills.

An interactive youth session brought to light the youth’s perception of the future of O&G resonating with that of the government. Being the drivers of change, they have the innovation potential, environmental sensitivity, and social connectivity to boost our efforts towards Vision 2050.

The value addition from the veterans-turned-academicians has contributed to bringing a holistic approach in contemplating the way forward. Dr. R.K Vij, PDPU has suggested that dynamic development planning based on performance analysis, environmental factors, and exploration strategies is the need of the hour. Going a step ahead, Shri P.K Painuly, UPES hinted towards preparing future workforce and aligning the academic courses to include concepts of data-driven digital transformation in the curriculum.

With this summit, the organizers are committed to generate a robust conference proceedings note, which will have a clearly defined role of the individual stakeholders and act as a base document for the Upstream sector for future reference and monitoring purposes periodically. A 18 member monitoring group has already been created with ToRunder Chairmanship of Shri Arvind Nath Jha, DS (Projects), MoPNG, which will be further strengthened with 50 members as advised by JS (Exploration), MoPNG during his closing remarks by ensuring presence 50 % women members and 50% young members who are left with service period of 20 to 30 years . The jobs will be divided by forming sub committees and they will have periodic review meetings involving all the stakeholders.

The whole ecosystem of policies for the E&P sector in its maturing stage connected with the determined efforts towards EODB have cumulatively resulted in a revamp of the regime, a hallmark of E&P development. Shri Amar Nath, Joint Secretary (Exploration), MoPNG, in his words expressed that this summit is complimentary for the industry and the government to innovate and move towards a long term vision of Self-reliant India. Collating perspectives from such a summit of global potential and focusing on short-term actionable outcomes is imperative for the Indian E&P sector to sustain its vibrant role in realizing Vision 2050.

By Sarkaritel February 16, 2021 19:16