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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.
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.
Mantrana Maritime Advisory has in-depth understanding of the Offshore Supply vessels and logistics sector in India. It could assist new entrants to the sector in the following ways
• Quantifying business opportunities
• Impact of Competition
• Regulatory opportunities and hurdles
• Updates on vessel Availability & new tender
• Entry Strategy
Mantrana could develop a reliable and achievable business plan for entry and growth in Indian Offshore slogistics services sector. This could be done either by leasing or acquiring suitable vessels