India-Norway Business Summit 2019Oil & gas upstream Wind energy Energy systems
On the occasion of Prime Minister Erna Solberg's official visit to India 6-9 January 2019, Norwegian Energy Partners will, in cooperation with Innovation Norway, be hosting energy industry sessions in New Delhi, India from 7-9 January 2019. NORWEP partners are invited to be part of the energy industry business delegation.
India is an economy in growth, doubling every ten years. According to analysts, the country will be the world's third largest economy by 2050, and the workforce grows by 14 million a year. This implies great opportunities for Norwegian companies, who look to India's energy industries such as oil and gas, marine and maritime.
The Delegation Programme encompasses on a number of industries, and NORWEP will focus on the following:
Norwegian competence in Oil & Gas
By 2035, India’s energy demand is expected to double to 1,516 Mtoe from 753.7Mtoe in 2017. According to the International Energy Agency (IEA), India is expected to account for almost one-third of the global growth in energy demand by 2040.
India has proven oil reserves of 600 million metric tonnes (MMT), and gas reserves of 1.2 trillion cubic meters. Almost 60% of the sedimentary basins are still not fully explored. With the upcoming projects coming up in deepwater and ultra deepwater regions, India is looking to get best global technology from the world players.
With the government stated goal to reduce imported crude dependence by 10% and increase gas usage to 15% of fuel mix by 2022, India is now inviting best global technology into the country. Some of the major areas includes subsea, seismic, EOR/IOR technologies, reservoir management, operational and HSE related practices.
With new initiatives like Open Acreage Licensing and Hydrocarbon Exploration Licensing Policy, Indian government is facilitating foreign players to participate in a long term India story. With more than 550 wells to be drilled by NOC, ONGC, itself in 1 year and more than $20 billion planned investments in Offshore, onshore and downstream sector, India is all set to be among leaders in the Oil & Gas Industry.
Renewable energy capabilities from Norway
The Indian government is running one of the largest and most ambitious renewable energy capacity expansion programs in the world, supporting the booming power demand. India set a target of achieving 40% of its total electricity generation from non-fossil fuel sources by 2030. As of today roughly 33% of the Indian power generation capacity is renewable. There is a strong demand for new hydropower, solar and wind energy capacity.
The Government has developed an offshore wind strategy to build 5GW of offshore wind till 2022 and 30 GW by 2030. 34 international potential bidders have expressed interest in the first offshore wind
energy project of 1 GW capacity in Gulf of Khambhat, off the coast of Gujarat. Draft RFP is published and a national tender expected to be released before Christmas. India has a strong wind industry, but lacks the offshore expertise. International suppliers will therefore be in demand to help build offshore wind capacity in India.
This is an opportunity for NORWEP partners to meet relevant energy industry representatives of the Indian market - including oil & gas operators; and regulators and developers within offshore wind.
Programme, registration, participation fee and practical details are only via Innovation Norway .
For details concerning NORWEP's sessions: