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AUG 04 2016

Tech meet of oil companies from today

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 04th AUG 2016


Major oil companies, including international service providers in the oilfield sector, will hold their first technology meet here from Thursday as part of the initiative to put northeast on the top of India's energy map by tapping the region's hydrocarbon potential.

The two-day meet is an initiative of the sub-committee of the upstream sector led by ONGC, with members from upstream national oil companies (ONGC and OIL) as well as private companies. The upstream sector of the oil industry is responsible for exploration and production of hydrocarbons from sub-surface reservoirs.

In June, Union minister of state for petroleum and natural gas DharmendraPradhan said his ministry is implementing the Hydrocarbon Vision 2030 to make the region a petroleum hub by doubling the region's oil and natural gas production, increasing refining capacities and expanding product pipelines. A senior ONGC official said the meet is being organized in line with the Hydrocarbon Vision 2030, which proposes to make an investment of Rs 1.3 lakh crore in the region's hydrocarbon sector over 15 years. Assam, which contributes about 10% of the country's oil production, is expected to get an investment of Rs 80,000 crore.

"All major operators such as ONGC, OIL, GeoEnpro, Jubilant, HOEC (Hindustan Oil Exploration Company), ACIL and international service providers like Schlumberger, Weatherford, Halliburton, Baker Hughes, Al Mansoori, among others are participating. Local service providers will also take part in the meet," the official said.

At the meet, the upstream companies will discuss the technical challenges for sustaining and increasing oil and gas production in the northeast. Service providers will offer technologies suitable for the region. "The meet will go a long way in improving the economy of the northeast. High-level officials of ONGC, OIL and the directorate general of hydrocarbons are also expected to attend the meet," the official said.



Assam Gas Natural Gas Oil ONGC Hydrocarbon Directorate General of Hydrocarbons Energy Petroleum Minister of State Oil and Gas Hydrocarbons India ongc

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