UK and Indian firms hope to strike new deals at oil and gas conference

UK and Indian firms hope to strike new deals at oil and gas conference

A delegation of Indian oil and gas organisations are set to meet British investors and export-ready firms at a major industry conference in Aberdeen tomorrow.

The Society of Petroleum Engineers’ (SPE) Offshore Europe event attracts a wide range of businesses involved in energy resources development and production. Britain’s Department for International Trade (DIT) has invited a selection of leading Indian oil and gas organisations in a bid to strengthen existing links between the two countries.

The Indian delegation, which is being led by senior officials from the Ministry of Petroleum and Natural Gas, includes India’s Oil and Natural Gas Corporation, the Federation of Indian Petroleum Industry and four private companies.

Andy Barr, head of trade and investment at the British High Commission in New Delhi, highlighted the role British companies have already played in supporting oil and gas extraction in India.

He said: “Since the turn of the century, UK companies are responsible for over one third of all FDI (foreign direct investment) into India’s oil and gas industry.

“Companies such as British Petroleum and Shell have a long-established presence and, as India intensifies its offshore, deep water exploration and production, the UK’s experience in the North Sea and Continental Shelf which has created a business infrastructure of over 3,000 companies means there is enormous potential to enhance our collaboration.”

India’s minister for power, new and renewable energy, coal and mines, Piyush Goyal, and the UK’s secretary of state for business, energy and industrial strategy, Greg Clark.
India’s minister for power, new and renewable energy, coal and mines, Piyush Goyal, and the UK’s secretary of state for business, energy and industrial strategy, Greg Clark.

Attendees at SPE Offshore Europe, which runs from September 5-8, will be involved in technical sessions, conferences and workshops. There’ll also be a number of exhibitions from global industry players.

On Tuesday, DIT India is scheduled to host a session covering Opportunities in India’s Oil and Gas Sector, offering the Indian delegation an opportunity to interact with leading British exploration and production businesses, world-class technology providers and specialist technical services firms. This will be followed by a session from the Government of India, designed to showcase recent policy reforms aimed at attracting new international operators.

Mr Barr added: “We’re bringing together British investors and export-ready companies with the visiting Indian delegation to look at opportunities for commercial partnerships across investment, services, technology and skills.”

While in the UK, the Indian delegation will also visit manufacturing facilities and meet representatives from organisations including GE Oil and Gas, Expro, Robert Gordon University and underwater vehicle specialist, SMD.

Earlier this year, Britain’s energy minister Greg Clark and India’s minister for oil and gas, Dharmendra Pradhan, agreed at a special summit to commit to further strengthening energy cooperation.

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