Globally, the Oil and Gas engineering industry is experiencing price volatility, technology advancements and regulatory changes. India and other developing countries largely depend on the Oil and Gas industry and there seems to be no scaling down of dependence on them in the next decade. According to Indian Brand Equity Foundation, 'India will account for 10.8 per cent of Asia/Pacific regional oil demand by 2010, while providing 10.2 per cent of supply, as suggested by Business Monitor International the actual world 'India Oil and Gas Report'. This can additionally be largely contributed to increasing demands from various industries across the nation.
India will account for 12.59 per cent of Asia Pacific's regional oil demand by 2014, relating to the latest 'India Oil & Gas Report'. Untouched markets and exploration areas likewise opening up to include in the risks and issues of the energy companies. Although Indian government has initiated many policies, the read credit goes to the Oil and Gas service industry that enables timely production through their technology advanced services.
Oil and gas engineering services provide plant design engineering and product development solutions for the design and development of equipments and related accessories for upstream (exploration, re-injection and LNG), midstream (pipelines, power generation and sea lines) and downstream applications (petrochemicals, fertilizers and refinery) all of the Oil and Gas domain. The range of Oil and Gas engineering services offered includes product development and support, accessory systems design, plant design engineering and field services.
Some of the products supported by these service companies include compressor, steam turbine, gas turbine, pump, auxiliary systems etc. Some of the service offerings as a result of products include -
Talent Pool - Gas and oil prices engineering services usually possess a pool of trained engineers with domain knowledge and good communication skills. The group will have expertise in managing and executing projects globally, driving projects through mature processes and ensuring quality deliverables that reduce work.
Value Proposition - These service agencies help customers improve quality of supply, reduce time-to-market, grow capacity, increase revenue generation life, reduce cost of product development and enhance sustenance engineering.
Enhance Productivity - The Oil and Gas engineering consultants have expertise in managing and executing projects globally, driving projects through mature processes and ensuring quality deliverables that reduce work. Moreover help companies improve quality of supply, reduce time-to-market, grow capacity, increase revenue generation life, reduce cost of tool and enhance sustenance engineering. These companies also provide support across the complete product life cycle from design and modelling through analysis, prototyping, automation, data documentation, instrumentation and controls, embedded systems development, manufacturing services support and, vendor management. Usually oil and gas service companies live in Special Economic Zone (SEZ) areas in the country.