New Delhi, February 12, 2025: At India Energy Week (IEW-25), Oil and Natural Gas Corporation (ONGC) CMD Mr. Arun Kumar Singh shared his candid views during an informal interaction, emphasizing the critical role of technology and the challenge of securing large-scale investments in the oil and gas sector.
“Technology must come into the oil and gas business. As you know, this industry requires huge capital investments. The question is, who will invest such a massive amount? We have limitations on how much we can invest,” said Mr. Singh.
His remarks underline the growing financial pressures and the need for technological advancements in the industry. As India’s largest upstream company, ONGC is expected to play a pivotal role in shaping the future of the sector, but the CMD’s statement reflects the reality of balancing innovation with resource constraints.
With rising energy demands and increasing global competition, Singh’s comments call for a collaborative approach involving government, private sector players, and foreign investments to bridge the gap.