CIS and India's partnerships in hydrocarbon and mining investment

MUMBAI, INDIA: The Commonwealth of Independent States (CIS) region, a big energy reservoir can be the answer to India’s ever rising demand for energy, according to a study by Deloitte. It says the time is ripe for collaborative ventures between CIS and India in the areas of exploration, refining, services and downstream. The information was made public at a seminar "Fuelling investments – Investment Opportunities in the Oil and Gas sector, CIS-India", organized by Deloitte Energy and Resources (India) in Mumbai.

The Deloitte study envisages collaborations in the following areas:

• Exploration - Joint bidding in license rounds and Drilling and seismic services
• Refining - Capital equipment for new projects, Project Management Services and Maintenance (Electrical, Mechanical, Instrumentation), JVS
• Services - IT enabled services and Training and Development – Hydrocarbon sector
• Downstream & Gas - LNG supply on long term contract basis and swaps and Transmission infrastructure and City Gas Distribution

Speaking at the seminar, Peter Burnie, partner, Energy and Resources - CIS said, “The geographic proximity and favorable investment climate in CIS, provides India with a promising platform for international expansion. Opportunities to create win-win partnerships exists both for India and Russia.”

Indian companies like ONGC, GAIL, RNRL, REL, Adani, Welspun, Mittal and Jindal steel are already active in the oil and gas and mining space. RIL and BHEL are aggressively prospecting opportunities in the energy domain.

Sanjay Kaul, advisor, Energy and Resources, Deloitte, Energy and Resources, said, "Investment capabilities and technological proficiency are driving global ambitions of Indian companies. These strengths can be leveraged extensively by the CIS countries."