Exploration and production segment in oil and gas sector holds tremendous business potential in India given the rising demand for crude oil and natural gas in the country. According to one estimate, oil consumption in the country may expand 4-5 percent per annum to 2015, indicating a demand of 4.01 million barrels per day by 2015 from the present level of around 3 mn barrels per day.
Crude oil in the country is produced Onshore and Offshore. Onshore fields are in Assam-Nagaland, Arunachal Pradesh, Gujarat, and Tamil Nadu-Andhra Pradesh. Oil India (OIL) and Oil and Natural Gas Commission (ONGC) have the onshore field for crude oil production. Offshore production occurs at Bombay High run by ONGC and Private or Joint Venture companies. For natural gas, onshore fields are at Assam, Tripura, Gujarat, Tamil Nadu, Andhra Pradesh and Rajasthan. Offshore production of natural gas takes place at the Western area of Bombay High. Following are the contract opportunities in the exploration segment of oil and gas sector.
Indian Oil Corporation plans to engage a contractor for processing of 2D seismic data in cambay onshore exploration block. Another public sector firm Oil India is in the process of hiring a contractor for hydraulic fracturing of oil and gas wells at Duliajan, Assam.
Another state-run explorer Oil And Natural Gas Corporation (ONGC) is looking out for a contractor for installation and commissioning of shallow water sub-sea production system for sub sea completion of 13 wells in western offshore Mumbai.
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