Offshore Maritime Services

India is an energy starved country. Majority of its energy needs are dependent on fossil fuels which has to be imported in large quantities. Import of energy related raw materials constitute majority of its foreign exchange outflow.
India imports more than 85% of its crude oil requirement. Though, a small share of it gets re-exported after processing in Indian refineries, import bill of crude oil is one of the primary factors of large trade deficit. Reducing demand supply gap of crude oil in India is one of the sole policy focus of government. This is one reason for sustainable investment in Indian Oil & Gas sector by Government owned companies. 

One of the primary reason for robust investment in the Oil & Gas sectors has been to secure long-term energy needs of India. This has led to collectively aggressive investment in Oil & Gas sector both in India in India and overseas.

Oil & Natural Gas Corporation (ONGC) has been the leader in driving Exploration and Production activities in India and overseas. The company has acquired, through its subsidiaries, several overseas blocks for exploration and production. This has led to large-scale requirement for marine assets in India.

Several Indian and foreign companies have customized their assets to meet Indian demand. Going forward the demand for marine assets mainly Offshore Supply Vessel, Diving Support Vessels, Construction Vessels, Pipe Laying Vessels, etc would continue to rise.

The Offshore Maritime Services (OMS) Industry provides support and services to the Offshore Oil & Gas or E&P (Exploration & Production) Industry - It comprises of

•  Offshore Drilling Industry
•  Offshore Supply Vessels Industry
•  Offshore Construction industry

Indian offshore Oil & Gas sector provides additional incentive for service providers. Majority of marine assets deployed in Offshore Oil & Gas sector are on long-term contracts. This provides sustainable revenue to service providers on a long-term basis. This trend is likely to continue in future. There are several companies in India that started with one boat and have grown to a fleet of more than two dozen Offshore Supply Vessels with their focus exclusively on Indian market.

Following is the opportunity in Offshore Sector