Weir India update February, 2014
Weir India at the 6th Oil and Gas World Expo- 2014
The three units of Weir India; Weir BDK, Weir Minerals India and EnSci, recently participated in the Oil and Gas World expo & Enertech exhibition, held at the Bombay Exhibition center, Mumbai from the 10th to 12th of February. Showcasing offerings in the field of oil and gas (for the upstream and downstream processes) and power industry .
India is the 8th largest oil consumer in the world and expected to be the 5th largest by 2025. The investment outlay in the oil and gas sector, as provided by the tenth five-year plan (2002-07), is US $ 13.05 billion in the upstream sector alone. The total investment over the next 25 years is expected to be US$ 110 -120 billion. More areas and opportunities for investment, technology and entrepreneurship are now open for the global players as well as for India’s own public and private sectors. As
declared by ONGC sources, India's largest gas find is expected to be around 22 trillion cubic feet (TCF) at the Krishna Godavari (KG) basin. India has invited foreign companies to invest and participate in the Indian hydrocarbon sector as a bulk of oil and gas potential still "remain locked up" in its basins. Given the tremendous opportunities India was an apt venue for the conference.