Released on = June 21, 2006, 11:26 pm

Press Release Author = RNCOS

Industry = Energy

Press Release Summary = The constantly growing energy demand in India opens big
business opportunities for its oil and gas sector. Apart from its prospective
domestic demand, India aims to become the hub for petroleum products exports.

Press Release Body = As India’s energy demand constantly rises and needs to be
supplied for the business opportunities for the oil & gas sector expand.

The various activities that feed investment opportunities for this sector include
new explorations for domestic demand; development of the new found oil fields;
transportation of crude oil, gas and other products; refining of petroleum products;
and providing for domestic demand and exports.

The Government of India has undertaken several initiatives to improve the current
18% level of exploration of sedimentary blocks. The Government of India also plans
to introduce open acreage policy that permits companies to bid for exploration of
desired blocks. The companies will be let to benefit from their technical expertise
vis-à-vis their competitors. They can select blocks suitable to their risk
propensity, profile and also time the bids.

India aims to become the hub for export of its petroleum products. It is estimated
that demand for petroleum products in Asia Pacific region alone would be around 28Mn
barrels per day in 2010.

In a recently published report “Indian Oil & Gas Industry: An Industry Analysis”
RNCOS provides an objective analysis of the Oil & Gas sector in India. It gives
detailed information on exploration, production, and other processes accompanied
with annual consumption figures and future growth prospects.

In the market research report RNCOS elicits the significance of the Indian Oil & Gas
sector from the following facts:

· Imports of petroleum and oil lubricant were 28% of total imports in 2004-05 while
exports were 9% of total exports in the same year.
· India’s consumption of crude oil was 120MMT in 2004 making it the sixth largest
crude oil consumer in the world.
· India’s refining capacity is 4% that of the world capacity and stands in the sixth
position, refining oil by millions of barrels every day.
· India is ninth largest crude oil importer in the world.

The report makes a comprehensive analysis of growth prospects and approaching
situation in the industry. It reveals the various oil and gas projects that have
been announced by Indian companies and the consequent investment that amounts to
over $30 Bn by 2008.

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