Sandvik eyes untapped opportunities in oil & gas industry in India

The rapid growth of the Indian oil and gas sector offers significant opportunities for the global industry. India is one of Asia’s key locations for the oil and gas industry. With double digit demand growth for oil set to outpace China for the third year in a row and a recent licensing round encouraging new players, India is attracting significant foreign investment in its effort to unlock almost US$11 billion worth of reserves and lower its reliance on imported crudes.

Last year the Indian government announced plans to invest US$20 billion in deepwater natural gas developments in the next few years, targeting over 20 TcF of reserves. This creates huge prospective for industry players to explore opportunities in the market.

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