Prime Minister of India Dr Manmohan Singh inaugurating Petrotech 2014

The Petrotech series of International oil and gas conference & exhibition got a fitting start with Prime Minister of India, Dr Manmohan Singh inaugurating the conference. Petrotech 2014 is being organized by ONGC.

Dr Manmohan Singh said that availability of sufficient energy at affordable price is extremely essential for Indian economy. While inaugurating the 11th edition of Petrotech 2014 at Greater Noida on January 12, 2014, Dr. Manmohan Singh said that India is presently 7th largest energy producing country in the world and is 4th largest consumer as well. He said that to meet the increasing demand, more exploratory efforts and international collaborations would be required. Looking at the widening gap between demand and supply India needs three to four fold increase in availability of energy in next two decades, he said.

Dignitaries on the dais at the launch of Petrotech 2014

To fill the this continuous widening gap, Prime Minister emphasized for encouraging domestic and global companies in different fields of hydrocarbons, within the  present sustainable and competent environment framework. “There is a need to bridge this ever increasing gap between the demand and domestic supply. With this in mind we are encouraging domestic and global companies to explore potentially hydrocarbon rich areas in the framework of the stable and enabling policy environment”, PM said.

PM also said that new and substantive technology is need of the day for present environment.  He also stressed on need for reducing carbon foot prints. As responsible member of international community we are duty bound in this direction he said. “The challenge of achieving high economic growth and yet reducing emissions is formidable one indeed but we are determined to meet this challenge fully”. PM said that Petrotech 2014 is carbon neutral event and such efforts should be emulated. Petrotech showcases perspective of Indian hydrocarbon sector to the issues related to environment.

Speaking on this occasion Union Minister for Petroleum and Natural Gas Dr M Veerappa Moily called for global collaboration in hydrocarbon exploration. He asked the investors to step forward in this direction and stressed for increasing collaboration with domestic energy companies. Dr Moily assured them of every possible help from Govt in policy framework.

“We found shale gas and we are marching forward, we also found plenty of CBM gas and are marching forward. And many of the areas which are still untouched, untapped, they have the potential, we require more capital, more investment, more technology and more than anything else more efficient administration of this ministry and also our oil companies. With the excellent team of MoS (Mrs Panabaka Lakshmi) and Petroleum Secretary (Mr Vivek Rae) and leaders like Sudhir (Vasudeva), I am confident that we can do it”, he said assuring investors of a favourable policy climate. Regarding Petrotech, Dr Moily said that it would be less to call it an event which is more of a campaign to bring global energy players on a common platform to deliberate and evolve solutions in regard to business and challenges of technology in hydrocarbon sector.

Earlier in his welcome address CMD Mr. Sudhir Vasudeva profusely thanked Prime Minister for sparing valuable time to inaugurate Petrotech 2014. He also welcomed Governor of Uttar Pradesh Mr. B.L Joshi, MoS, P&NG, Mrs. Panbanka Lakshmi and Petroleum Secretory Mr. Vivek Rae for being present and blessing the commencement of this vital event of Indian hydrocarbon sector.  Mr. Vasudeva in his address gave brief of the historical perspective of Petrotech and also informed about the enthusiastic participation of Indian and global industry during forthcoming days. He thanked Govt, particularly the Prime Minister for providing enabling guidance and leadership to the hydrocarbon sector and assured that this edition of Petrotech 2014 would help achieve all its objectives.

Speaking to the media earlier, Mr Vasudeva said that we beat the trodden path by organizing the Petrotech in Greater Noida, but it wasn’t without apprehensions at how the response would be; however, looking at the response that this year’s Petrotech has received with more ministerial delegations from overseas attending the program, I’m finally assured and proud of the efforts put in by my team.

Addressing the Media gathering, Mr Narendra K Verma, Director Exploration ONGC and Chairman, Organising and Programme Committee Petrotech-2014 briefed about the various conferences and events lined-up during the 4 days of Petrotech and key figures on the participation at this year’s events, like number of delegates, presentation –from both Indian and overseas delegates, distinguished lectures etc.

Later in the day, Dr Veerappa Moily launched the Petrotech-2014 Exhibition. Dr Moily cut the ribbon amidst the dignitaries from Oil and Natural Gas majors. Mr. Moily also visited the various stalls showcasing the development in the Petroleum sector, starting with ONGC, the country’s premier oil and gas major. He also signed the digital plaque reading, “I Hereby Announce Petrotech 2014 Exhibition Open”.

Dr Moily inaugurating the Petrotech exhibition

Among those present on the occasion were Petroleum Secretary Mr. Vivek Rae, ONGC Chairman and Managing Director Mr. Sudhir Vasudeva, Minister of State, Petroleum and Natural Gas Mrs Lakshmi Panabaka, Director Exploration Mr N.K. Verma along with other Directors on Board of ONGC and ONGC subsidiaries.

View of ONGC Pavilion at the Petrotech 2014

As many as 60 countries are participating in the four-day event that has a farsighted theme – ‘Vision 2030: Emerging Global Energy Basket – Challenges & Opportunities’.