Dear members of the Society of Petroleum Geophysicist (SPG) India,
I would like to congratulate SPG India on its 30th anniversary, a milestone in itself. I extend my heartfelt congratulations and admiration for the organization's remarkable growth and success over the years.As someone, who has witnessed SPG India's growth first-hand, I am honoured to be associated with such an esteemed group of professionals.
While we celebrate SPG India's accomplishments, we must also acknowledge the challenges that the Indian hydrocarbon industry is facing. Despite the difficulties posed by the pandemic, I am pleased to see that the Indian economy is gradually returning to normalcy. India’s continued industrialisation and urbanisation has put immense pressure on the oil & gas industry in terms of the demand growth and shrinking share of domestic oil & gas in the total energy mix. Majority of our fields are aging and we need to look beyond our conventional wisdom into Category-1 basin for establishing new plays. As per IEA’s World Energy Outlook, Energy use on a per capita basis in India is well under half the global average but I anticipate that this number will continue to rise in coming decades and so also the demand for all the components of energy mix including hydrocarbon.
The change in the E&P industry is inevitable, and we must adapt to it. As Heraclitus once said, "The only constant in Life is change." I am encouraged by the efforts of the Indian E&P industryto explore new potential and upgrade basins such as Vindhyan, Mahanadi, Bengal, Andaman and targeting new frontiers of Cuddapah, Narmada and Ganga Basin. However, more work needs to be done to address the challenges facing the Indian E&P industry, and I believe that technology and innovation can play a critical role in solving them. I urge the SPG to continue to lead the way in finding innovative solutions to these challenges. I also acknowledge the role of SPG in publishing quality papers in its biennial periodical “GEOHORIZONS” which gives all the geoscientists a platform for their technical expression.
I commend SPG India for its efforts to bring academia and industry together and for inspiring young minds to pursue a career in Geoscience. This partnership between industry and academia is vital for the growth of the industry.
Finally, I extend my congratulations to the new SPG India executive body and wish them success in their endeavours. I am confident that under their leadership, SPG India will continue to thrive and contribute to the growth of the Indian E&P industry.