India’s economic growth has led to increased oil consumption but domestic production has not kept pace. Imports have increased but there is great potential for the exploration of domestic resources. I N D I A’ S O I L S TO R Y R I S I N G CO N S U M P T I O N & S TAG N AT I N G D E V E LO P M E N T INDIA’S OIL IMP ORTS 18 % s au d i a r a b i a 5% ot h e r 22% africa 11 % iran 34% ot h e r m i d d l e e a st 10 % w e s t e r n h e m i s p here s o ur ce Global Trade Atlas, 2010 DWINDLING DOMESTIC SUPPLIES thous and b arrels / day OIL PRODUCTION & CONSUMPTION Barrels of oil a day 3 ,0 0 0 2, 5 0 0 815,000 consumption 2,0 0 0 1,500 1 ,0 0 0 pr oduction India will exhaust its proven reserves within 500 2000 2 0 02 2004 2006 2008 2 010 25 years s o u r c e U. S. Energy Information Administration P R O D U C T I O N G O A L S FA L L S H O RT TONNES OF CRUDE 206.8 MIL THE P OTENTIAL FOR DISCOVERY Expored sedimentary basins in India 22 percent 176.9 MIL in l ast 13 ye ars Planned Production 247 16 Actual Production s o u r c e 11th Five year plan s o u r c e GE Deepwater blocks awarded by gov’t Developed (6%)