India: The Emerging Energy Player

Chapter 8

 

1 According to CIA by 2015, combined GDP of China, India and Japan would surpass that of the United States and the EU at US$19.8 trillion, $14 trillion and $11.6 trillion, respectively, in 1998 dollars. By 2050, Goldman Sachs has projected, the largest economies in the world will be China, the United States and India, respectively, with Japan a distant fourth.

2 OVL and other NOCs are already involved in 14 countries and the Indian presence is in the process of being established in further 33 countries worldwide. Committed investment so far is in excess of $5 billion. During the last one year, OVL acquired exploration blocks in Australia, Egypt, and Qatar; OVL & OIL obtained interests in a block in Ivory Coast while the consortium ...