The Indian petroleum E&P industry has seen about two decades of privatization, the Government owned companies are still the giants among the whole spectrum of players. The slow growth of private sector can be ascribed to limited access to the organized E&P talent.
There is no dearth of petroleum E&P competency in India, but the same has not been able to get properly organized to provide strong technical and professional support to the talent hungry private sector. The companies in private sector have been somehow managing the business by picking up the available expertise from among former employees of public sector companies, fresh graduates and MNCs. The private sector can play a vital role in development of petroleum E&P in India because a large basinal area in the country is yet to be explored and developed.
The energy scenario in India does not need elaboration. Oil and gas are the most vital energy sources and more than 2/3rd of the oil requirement of the country is being met through import. There is an urgent need to accelerate the activities in oil and gas exploration and production in India and overseas by public and private sector of the country. The E&P talent needs to get organized to deliver the following immediate requirements of the petroleum sector.