Having been appointed as the Director General (DG) of Directorate General Hydrocarbons (DGH), it gives me immense pleasure to re-connect with the Country’s Oil and Gas sector through this crucial organization after a decade. For past 25 years, DGH has been attaining new heights in its objective to promote sound management of the Indian Petroleum and Natural Gas resources while maintaining synergy with environment, safety, technology and economy. While I appreciate, the significant developments undertaken by DGH officers under the able guidance of my predecessors, I hope to facilitate blending of new ideas and philosophies from the industry towards its optimum development.
Our country will become the key driver of global energy demand in the next twenty-five years. Our energy consumption of more than 1.2 billion population will grow by 4.2 percent a year for the next twenty-five years, which is fastest among major world economies. In accordance with the vision of the Hon’ble Prime Minister, we need to move to responsible pricing which balances the interests of both the producers and consumers and towards transparent and flexible markets for both oil and gas for serving the energy needs of the country in an optimal manner. We need to put concerted efforts to meet the ambitious target of 10% import reduction of oil by the year 2022 set by the Hon’ble Prime Minister.
The proactive efforts of the Ministry of Petroleum and Natural Gas, under the able guidance of Hon’ble Minister, Petroleum and Natural Gas have been resonating with the mandate of accelerating the indigenous Oil and Gas production. These include introduction of Revenue Sharing concept in all Indian E&P contracts post NELP IX, award of un-monetized discoveries under Discovered Small fields (DSF) Bid round I, creation of National Data Repository (NDR), implementation of Hydrocarbon Exploration Licensing Policy (HELP) through Open Acreage Licensing Program (OALP), extension policies for Field contracts, marketing and pricing freedom for Gas discoveries in Deepwater, Ultra deepwater & HP-HT areas and the policies for streamlining PSC issues.
These initiatives address crucial aspects of E&P sector, namely effective contract management and the upliftment of systems and processes to a technologically enabled platform for ease of doing business. I am sure that efforts towards a progressive, insightful and thoughtful contractual framework and infusion of ever advancing technology will help DGH in the discharge of its responsibilities in a significant manner and propel our sector to desired objectives.
I would like to remind everyone the mantra of TEAM, namely ‘Together Everyone Achieves More’, I request all the stakeholders of Indian E&P sector to bring forth their ideas and observations to enable a better understanding and shared vision. I would also expect my team of diligent officers at DGH to continue being receptive, analytical and pragmatic towards their responsibilities.
Looking forward to your cooperation,
Dr V. P. Joy, IAS