Upstream Segment - Oil and Gas

The oil and gas sector consists of three segments - upstream, midstream and downstream. The upstream segment primarily comprises companies that are engaged in exploration and production activities, while the midstream segment comprises of players in storage and transportation, and the downstream segment comprises of players that are engaged in refining, processing and marketing of petroleum products.

• Locating new fields for exploration: 78% of the country’s sedimentary area is yet to be explored.
• Increasing the share of natural gas: The government is working towards increasing the share of gas from 6.2% (currently) to 15% of the energy mix by 2030.
• Development of unconventional resources: CBM fields in deep sea.
• Opportunities for secondary/tertiary oil producing techniques.
• Higher demand for skilled labour and oilfield services and equipment.

Top Companies

State-owned ONGC dominates the upstream segment.

• Oil and Natural Gas Corporation
• Oil India Limited
• Cairn Energy