Involvement of Canadian companies in the oil and gas sectors of India and opportunities yet to come

Involvement of Canadian companies in the oil and gas sectors of India and opportunities yet to come

Canadian oil and gas companies have been operating in India for many years.

EXPORT

Canadian oil and gas companies have been active in India for many years, with a strong presence that is increasing as the Indian market continues to grow. Canadian businesses provide a wide range of services and equipment to the energy sector in India, including exploration and production services, engineering and construction services, drilling services, project management consulting, technology licensing and supply of materials and spare parts. Canadian companies have also exported their specialized oilfield technologies to India for use in offshore drilling operations. Moreover, Canadian companies are actively involved in the development of piping systems for transporting crude oil from refineries to terminals around India. They also export specialized equipments such as pipeline equipment, pumps, valves and turbines used by Indian energy majors in exploration and production activities. In addition to these products, they are increasingly providing specialized training programs to Indian personnel on the use of their advanced technologies.

INVESTMENT

In terms of production operations in India, Canadian-based oil and gas companies often focus on offshore projects involving drilling platforms and pipelines. These activities provide numerous opportunities for Canadian businesses to capitalize on the country’s vast natural resources. Similarly, Canadian petroleum firms have invested heavily in refining capabilities in India due to favorable economic conditions and local market demand. This has enabled these firms to capitalize on the growing Indian market while also gaining access to raw materials required for the manufacture of refined products such as diesel fuel or jet fuel.

In addition to these core activities, Canadian oil and gas companies have expanded into other areas such as exploration services and natural gas trading. Exploration services involve using sophisticated technology such as seismic surveys which allow geologists to identify underground reservoirs containing hydrocarbons that can be subsequently extracted for use either domestically or for export purposes. Natural gas trading involves buying and selling surplus supplies on international markets enabling traders to reap profits from price differentials between different countries or regions.

Finally, Canadian companies also export a range of equipment such as pumps, valves and related components into India for use in the production of oil and gas. This equipment is essential for efficient extraction processes which ensure that petroleum resources are processed safely at minimal cost while meeting stringent environmental standards set by Indian authorities.

MORE OPPORTUNITIES YET TO COME

The opportunities for Canadian oil and gas companies in India are growing with the development of the Indian oil and gas sector. The Indian government is actively encouraging foreign investment in the energy sector, offering innovative programs and incentives that can help facilitate a smooth entry into the country. This includes measures such as fast-track approvals for investments by foreign companies, setting up special economic zones specifically for oil and natural gas projects, as well as providing access to important pipelines. Aside from this, India also offers attractive tax incentives to international investors working in the energy sector. These measures make it easier for Canadian companies to establish a foothold in India and benefit from its rapidly expanding economy. Canadian technology is being increasingly sought after for applications such as deepwater drilling, enhanced oil recovery technologies, pipeline integrity systems, process automation systems, and compressors technology.

In terms of potential Canadian exporters of oil and gas equipment to India, some notable examples include Suncor Energy Inc., TransCanada Corporation (now TC Energy), Schlumberger Limited (the world’s largest supplier of technology-related services to the global energy industry), ATCO Structures & Logistics Ltd., Cenovus Energy Inc., Imperial Oil Limited (a subsidiary of ExxonMobil Canada), Manulife Financial Corporation (a leading provider of financial services in Canada), Husky Energy Inc., Enbridge Inc. (one of North America’s largest energy infrastructure companies), SNC-Lavalin Group Inc., Atlantic Towing Ltd., Seaspan ULC, Stantec Inc., Siemens Canada Ltd., WorleyParsons Ltd., Velan Inc., ABB Canada Ltd., National Oilwell Varco Canada Ltd., National Steel Car Corp., Emcon Services Ltd., MEG Energy Corp. Additionally, product suppliers like Nalco Champion, Halliburton, Schlumberger Ltd. also have strong presence in India. Other than these major players, there are many small-scale Canadian businesses that specialize in oilfield services or manufacturing related accessories that could benefit from exporting their goods to India.

These potential exporters offer a wide range of products from power generation solutions to drilling rigs to safety systems for refineries; effectively covering all aspects of the upstream production process from exploration through extraction to processing. Thus there is great potential for them to capitalize on growing demand in India’s energy market by exporting their expertise and products.

Are you expanding or growing your business abroad? We will help you select the country with the greatest potential, develop an entry strategy or monitor market trends.

Back to Top