Reflections

As this Mobile Offshore Production Unit will be able to operate in deep waters, it will open up new opportunities to access previously untapped reserves. Its mobility will allow ONGC to respond quickly to changing market conditions and explore new opportunities as they arise. It will help in reducing the time and costs associated with traditional offshore.

The Sagar Samrat rig has been a valuable asset in India's hydrocarbon production and security for many years. Built in 1973, Sagar Samrat Rig was instrumental in 14 key offshore oil and gas discoveries and drilled around 125 wells. I am sure in its new Avtar as Mobile Offshore Production Unit, Sagar Samrat will continue to contribute to India's hydrocarbon security for many more years to come.

I express my commendation for the efforts of the ONGC team in working under difficult conditions to achieve this milestone. The team has faced numerous challenges, but their grit and determination have led to the successful conversion of the Sagar Samrat Rig into a Mobile Offshore Production Unit.

The Sagar Samrat is also a symbol of Atmanirbhar Bharat as it showcases India's resolve and ingenuity in creating indigenous oil & gas production assets to the highest standards of the world.

As our defence forces guard our borders, citizens of India can go to sleep safely. Similarly, ONGC officers work as energy soldiers relentlessly to produce oil & gas, so that the nation can move smoothly.

The Government has taken various initiatives to support technology industries and enhance the renewable energy sector. The National EV policy has inspired state governments to adopt regionally relevant EV policies and academic institutes like IITs, to start dedicated programs for EVs with focus on R&D.

India has progressed significantly in the biofuels space. The signing of an MoU between NRL & FD, Govt. of Assam is a step forward in setting up more 2G ethanol plants. This will not only help a farmer earn Rs. 80 thousand to Rs. 1.2 lakh per hectare every year from bamboo farming but also, create a carbon sink that will fix 2.6 lakh tonne CO2 from the air per year.

It is a pleasure to inaugurate another important initiative - Methanol blended HSD run boats - which is a step towards building greater energy independence and creating a cleaner environment. All these efforts will ensure India's quick progression towards creating a Methanol-based economy and become atmanirbhar in energy production.

The Government has taken various initiatives to support technology industries and enhance the renewable energy sector. The National EV policy has inspired state governments to adopt regionally relevant EV policies and academic institutes like IITs, to start dedicated programs for EVs with focus on R&D.

Increased E&P, import diversification, biofuels part of India’s four-plank energy security strategy.

India Energy Week will enable all of us to get together to innovate and devise solutions to solve the global energy trilemma of security, affordability and availability as well as devise solutions for the future global energy transition.

India is the front runner in mitigating climate change globally and is progressing fast on its energy transition agenda.