Industry Insights

Challenges in Award and Execution of EPCI Projects in India

Posted on 19 January, 2010 | Tags: EPCI, Oil & Gas, Project Management, test

In other areas of the world, there are countries equally as dependent on imported fuel stock as India. Oil and gas companies are working hard to develop their award process to set the conditions for greater home production levels. It is high time that Indian companies works to address the process too.

India, like most countries in the world, will always be dependent on imported fuel but during these times a fast developing country's aim should be to minimize this dependency. The price of oil may be low for now, but this is just a blip in the market. Most producers are now past peak production, but demand is not decreasing. In India, where the economy is set to grow by 8% at least in the next year, the Tata Nano, the cheapest car in the world, was commercially launched in March, bringing motor transport to the masses in the country. In other areas of the world, where there are countries equally as dependent on imported fuel stock as India, oil and gas companies are working hard to develop their award process to set the conditions for greater home production levels. It's time that India work's to address the process too. ONGC needs to address the issues of increasing the supply of fuel to the economy without recourse to the ups and downs in the market by taking on a long term approach. It needs to take advantage of current low construction prices, learn to award contracts quickly to the contractor offering

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