Buyer Seller Meet Session-1 successfully organized
The Buyer-Seller Meet, held in the ambit of Petrotech-2019, was centered around the Theme of "Achieving New Energy World order Through Innovative Technologies”. The Buyer Seller Meet (BSM) was organised and coordinated by Anand Mohan, ED, Chief Onshore Engineering, ONGC & his team. Moderated by Deepak Mahurkar of PWC the panel comprised a motley of Indian policy makers, foreign diplomat, state run OMCs chiefs and industry service providers who discussed global energy challenges and the compulsions before Indian energy sector. The Inaugural Session, with the Topic “Disruptive Innovation and Emerging Processes rewriting Energy Landscape” was attended by Mr. Amitabh Kant, CEO-Niti Ayog; Mr. Sanjiv Singh, Chairman-Indian Oil; Mr. A.K. Dwivedi, Director (Exploration), ONGC; Dr. Daniel Bradley, British First Secretary & Team Leader for Energy and Low Carbon Growth and Mr. K Gautham Reddy, MD-India and Bangladesh, Schlumberger.
Amitabh Kant, CEO Niti Ayog spoke of the need for the OMCs to change their focus from revenue earning model to increasing the production. He said the right way forward was to give complete freedom to Oil and Marketing Companies to market and sell their products in the markets. Also, that OMCs should be given freedom to introduce technology via joint collaborations for the purpose of increasing oil and gas production. The Niti Ayog head felt that the world of Energy was headed for a major disruption due to remarkable lowering in prices of storage facilities and of (electric) batteries changing the energy dynamics in terms of ushering in cleaner and efficient fuel. Mr. Sanjiv Singh, Chairman, IOCL said that for decades that change has been reflecting as products in energy basket are changing rapidly. He said huge, significant changes were on horizon in terms of additions to the energy basket. Mr. Singh spoke of changes in business models in terms of innovation from digitization and Intellectual Patenting. On how to increase the production, the ONGC Director (Exploration), Mr. A.K. Dwivedi said disruption should be music to the ears of hydrocarbon energy majors. Mr. Dwivedi referred to the changing nature of products in energy basket and the companies having to broaden their portfolio to include unconventional energy resources in their value chain in order to meet the diverse nature of the demand. He also felt that the focus should no more be restricted to easy hydrocarbons that are resting closer to surface. Mr. K Gautham Reddy from Schlumberger said that supply constraints and shorter but deeper demand cycle were global concerns faced by Oil and Gas sector, on the perspective landscape in terms of impending changes in the Indian energy sector. Dr. Daniel Bradley talked of the challenges faced in exploration of oil and gas fields in North Sea and the broader energy changes that have happened in the UK since then as a broader reference point for India. The session was attended by many senior executives of the industry .