Experts and industry observers urge oil and gas companies to accelerate engineering and production activities in order to bridge the demand-supply gap in crude oil.
The country depends on import for over 70 percent of its crude oil requirement and this puts huge pressure on India’s import bill.
Some experts feel that there is enormous potential in the Indian oil and gas sector and it would continue to play a pre-eminent role in meeting the country’s energy requirements.
The strong momentum in refining sector is expected to continue and the gas segment will also attract parallel investments.
The gas segment will attract investments in areas like re-gasification, pipeline transmission, distribution infrastructure and city gas distribution, Engineers India Chairman and Managing Director AK Purwaha said at an event.
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