API RESPONSE
Here, in this exclusive CXO article, Rakesh Ayri, CEO, Seamac Limited effectively delineates his insights about the offshore industry. Let's delve in to know more!
The offshore industry in India plays a critical role in the country's economy, particularly in oil and gas exploration, marine construction, and renewable energy. With shifting global energy demands and rising environmental concerns, this sector is at a pivotal moment of transformation. This article explores current trends in the Indian offshore industry and potential future developments.
1. Changing Energy Landscape
Historically, oil and gas exploration, led by companies like ONGC, has dominated India’s offshore industry. However, the global shift towards renewable energy is driving change in this sector. India has set ambitious targets to increase the share of renewables in its energy mix, with offshore wind energy emerging as a key area of focus.
Rise of Offshore Wind Energy
The Indian government has identified potential sites along the coasts of Gujarat and Tamil Nadu for offshore wind energy projects, targeting 30 GW of capacity by 2030. This transition from fossil fuels to renewables is expected to attract significant investment and spur the development of new infrastructure and technologies.
Challenges & Opportunities in Oil & Gas Exploration
Despite the growing emphasis on renewables, oil and gas exploration remains crucial for India. The sector faces challenges such as declining production from mature fields, rising operational costs, and stricter environmental regulations. To address these, companies must invest in advanced technologies like deepwater drilling, enhanced oil recovery, and digitalization. According to Oil Minister H.S. Puri, the exploration and production (E&P) sector offers investment opportunities worth $100 billion by 2030.
This story is from the November 2024 edition of Siliconindia - India Edition.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 2024 edition of Siliconindia - India Edition.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MISSING INSURANCE IN INDIA
Financial literacy and financial inclusion are amongst key factors reflecting any economies development stage. Better financial literacy implies larger population having necessary awareness about and access to varied financial products (viz. banking systems, savings products, credit products, transaction systems, insurance).
DATA-DRIVEN DIGITAL TRANSFORMATION: NAVIGATING INNOVATION, GENERATIVE AI AND STRATEGIC INTEGRATION
Dev Ramchandani, a dedicated Practice Leader and Management Consultant, excels in business transformation, innovation, team building, and driving operational excellence through digital solutions with a passion for making a positive impact.
IDS NEXT: Innovating Cutting-Edge Software Solutions for Hospitality Brands
The global tourism and hospitality segments are transforming with increasing integration of modern and advanced software solutions. Where traditional hospitality management systems grappled with operational flexibility and scalability, modern systems offer the flexibility needed to keep up with the demands of the evolving hospitality industry.
SMART ELEVATOR SOLUTIONS CAN BE A GREAT HELP IN DEALING WITH THE GREEN BUILDING CHALLENGES
The concept of green building has always been associated with environment and sustainability-related features such as green walls and solar panels, but it is way more than that.
siliconindia 10 MOST PROMISING POS SOFTWARE SOLUTION PROVIDERS-2024
In India, POS solutions are being adopted for specific sectors like retail, hospitality, and healthcare with features customized to the needs of each industry
CANDIDATES' JOB EXPERIENCE - UNVEILING THE SCANDALOUS PRACTICES OF APPLICATION
With over 11 years of experience, Sweety is an experienced Executive Team Lead Human Resources with a demonstrated history of working in employee background screening industry.
QUEUEBUSTER - Pioneering Android POS Solutions for Global Expansion in the Retail Technology Landscape
The Retail industry is experiencing significant transformations driven by evolving consumer preferences, technological advancements, and regulatory changes.
THE IMPACT OF INDUSTRY CONVERGENCE ON MULTI-INDUSTRY IT, BPO, AND KPO LEADERSHIP
Kapil, a seasoned chartered accountant with 27+ years of expertise in the shared service industry. He has worked with top global organizations, handling diverse roles in accounting, taxation, audit, and program management. Currently, as the Managing Director of WM Universal, a 100 percent subsidiary of WM worldwide, Kapil oversees shared service operations in India for the largest waste management company globally, focusing on the North American continent.
WARDWIZARD, AMPVOLTS COLLABORATE TO EXPAND EV CHARGING
In the Memorandum of Understanding (MoU) with Ampvolts Ltd, earlier Quest Softech (India), the manufacturer of electric vehicles under the Joy e-bike and Joy e-rik brands has vowed to develop state-of-the-art charging infrastructure for EVs in India and elsewhere in the world.
THE FIGHT AGAINST COUNTERFEITING
Nowadays, it’s not just the horror of fake people that haunts individuals, but also the ever-growing presence of counterfeit goods that threaten their lives in ways they least expect.
