UK subsea players target India’s oil & gas market
UK subsea companies showcased their technology and expertise to senior officials from India’s Oil and Natural Gas Corporation (ONGC) during last week’s trade mission to South Asia.
The trade mission was organized by industry body Subsea UK in partnership with the Department of International Trade (DIT).
The five-day mission saw representatives from Expro Group, Flexlife, GE Oil and Gas, SMD, Sonardyne, and Tata Steel participate in a series of workshops in New Delhi, Kakinada, and Mumbai from May 22-26 to demonstrate their deep-water exploration and production capabilities.
Following the announcement that ONGC will make a $10 billion investment in exploration and production in the east coast region of India, with $5 billion for the 98/2 fields in the KG Basin already committed, UK companies were being asked to suggest ways they could help unlock India’s deep-water potential.
The mission also included a technical session with Reliance Industries, a conglomerate holding company which owns businesses engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
Neil Gordon, chief executive of Subsea UK, said: “With UK subsea exports valued at almost £5 billion ($6.4 billion), we want to see an increase of British firms targeting international expansion to sustain long-term growth.
“We hope the mission will deliver thought-provoking discussions with senior officials from ONGC and Reliance Industries and ultimately lead to future business.”