GO India - fuelling a nation’s growthNews // December 18, 2006
Currently the fifth largest energy consumer in the world, with oil and gas representing over 40 per cent of its primary energy consumption, India is at the forefront of global energy demand and faces a number of technical and business challenges – and an equally extensive set of opportunities.
To help meet these challenges – and highlight the opportunities - GO India 2007, a major new exposition and conference designed to promote cooperation, understanding and technology transfer will be held at the Pragat Maidan Exhibition Center, New Delhi 31 October-2 November 2007. It will be organised by dmg world media, the name behind many of the world’s major energy events including the Global Petroleum Show (GPS), ADIPEC, and Gastech. dmg’s portfolio of oil and gas events represent more than 3,400 exhibitors and 108,000 visitors from over a hundred countries.
“As India’s economy powers ahead at an annual rate of 8 per cent, investment in both upstream and downstream is estimated to be worth US$110-120 billion over the next 25 years,” explained Neil Wood, Vice President Energy at dmg world media.
“GO India 2007 will focus on the commercial and investment opportunities presented by India’s growing demand for oil and gas. Fuelling India’s growth requires sustained investment together with modern technology, equipment and services. India is actively seeking international oil and gas partners, operators, engineering companies and contractors from around the world. With significant upstream and downstream investment over the next 25 years, a liberalised approach to FDI (foreign direct investment), proximity to the Middle East crude oil and gas supply market and major importers, a developed infrastructure, enormous domestic market and rising consumerism, India presents distinct commercial advantages and investment opportunities across the entire industry."
With projected reserves of 28 billion tonnes of oil equivalent and only 19 per cent explored, India is one of the world’s last E&P frontiers. Reliance Industries’ recent world class deepwater gas discovery in the KG Basin and Cairn Energy’s announcement to invest a further US$2.02 billion in the prolific Rajasthan oil block in the western region of India have proved India has large undiscovered reserves of hydrocarbons.
“But India’s ambitions go far beyond the successful exploitation of those reserves,” explained Wood. “At 2.5 million barrels per day, India’s refining capacity has more than doubled in six years and is ranked sixth globally. With surplus capacity and its strategic location on the route of Middle East crude bound for Asian countries, India is well placed to take advantage of the demand for petroleum products in the Asia Pacific region and to become the regional hub for petroleum product exports.”
GO India 2007 Exposition & Conference represents a tremendous opportunity for those seeking partnerships, alliances, potential investors and suppliers of new technologies. The exhibition will feature approximately 200 domestic and international companies and an unrivalled display of state-of-the-art technology and services across both the upstream and downstream industries, including oil and gas exploration & production, processing, refining, storage, transportation, marketing, retailing and infrastructure development.
Further information on GO India is available from Seamus Flanagan, dmg world media. Tel: +44 (0) 1737 855 500; Fax: +44 (0) 1737 855 482; Email: firstname.lastname@example.org and online at www.goindiaexpo.com.