To meet India's rising energy demands and reduce oil imports, the government has undertaken a slew of policy measures in the recent times – one of which is the development of deepwater blocks off the East Coast of India. Sensing this as an opportunity, many exploration & production (E&P) firms, including the likes of ONGC, have of late begun investing considerably in identifying and exploiting deepwater projects that could help keep the level of gas production and crude inflow up in the times ahead.
To better cater to the opportunities in the deepwater segment, particularly those on the Eastern Coast, L&T Hydrocarbon Engineering (LTHE) has joined forces with GE Oil & Gas and McDermott International to offer a strong, combined value proposition to clients.
This joint strength was on full display at the recently concluded SPE Oil and Gas India Conference and Exhibition (OGIC) held in Mumbai from 4-6 April 2017. Organised by Society of Petroleum Engineers, the biennial event which features a multi-disciplinary technical conference and an exhibition showcasing the latest innovations for the oil & gas industry, made for a perfect platform for LTHE to display its strengths.
A common stall underlined the coming together of LTHE, GE, and McDermott for deepwater opportunities in the Indian market. Located in a prime spot, along with all the other major foreign and domestic players, the imposing stall attracted plenty of footfall during the three day exhibit including the entire top brass of ONGC which dropped by on the inaugural day. Senior officials from BP and many other firms also visited the stall to find out more about LTHE's capabilities and its value proposition along with GE and McDermott.
LTHE CEO & MD, Mr. Subramanian Sarma too visited the exhibition and was on hand to receive some of the high-profile visitors on day one. He was accompanied by Mr. K Ravindranath, Senior Vice President & Whole-time Director, and Mr. Satish Palekar, Vice President & Head – Offshore, on the occasion.
Deepwater projects call for plenty of technological sophistication and high-end execution capabilities and in GE and McDermott LTHE has two perfectly capable partners that complement it greatly. LTHE with its strategically located modular fabrication facility on the East Coast of India, GE with its expertise in subsea production systems and McDermott with its unmatched installation capabilities, the three combine to offer a value proposition that is stronger than any pure play deepwater entity.
The partnership vying for a piece of the action unfolding in the deepwater segment on the East Coast is already bidding for projects jointly.
The OGIC exhibition provided an important opportunity for LTHE to display its strength, promote its offerings and network with industry professionals from all over the world.