Que: How does the company address the challenges of energy security, energy equity, and environmental sustainability?

Ans: Energy security for India means ensuring that energy is available to the entire population of the country in quantities that can help them lead a dignified life. Currently, India’s energy consumption is one-third of the global average and about one-fifteenth of the US's consumption. This low energy consumption correlates with the fact that India ranks low to medium on the Human Development Index (HDI) which is a measure of the standard life of the citizens of a country.

To reach a level where we can call ourselves a developed nation, we need to at least triple our energy consumption. This means we require all energy sources—it’s not a choice between fossil fuels and renewables; we need both. Our company operates in both fossil fuels and renewable energy sectors. India imports 80 percent of its fossil fuels. So by energy security, I also mean ensuring a stable supply of energy even in the event of major disruptions, such as wars or supply chain disruptions. This requires maximising domestic energy production—whether oil and gas or renewables.

Fossil Fuels remain the dominant energy sources, which is understandable given that India’s renewable energy target is 500 GW, while our total requirement is at least two or three times of this amount by 2030. Transition takes time. To reach even the global average, we need to expand energy production significantly.

We support the oil and gas sector by working with companies like ONGC, IOCL, MRPL, and Cairn. Our role covers all engineering phases, including:
• Concept Development ( Pre-FEED)– Selection of the most suitable development concept on the key matrix of highest Ultimate Recovery, Highest NPV, low Capex and cost of ownership, lowest technical and non technical risks etc...
• Front-End Engineering – Defining project scope, costs, schedule and risks within an acceptable range so that a Final Investment Decision can be taken (or not).
• Detailed Engineering – Creating detailed technical designs incorporating the vendor Data so that construction can be started.
Project Management Consultancy (PMC) – We support the owner companies in project execution or, in some cases, manage entire projects ourselves on behalf of the clients. Managing the interfaces in the contracting quilt is a key component of this work and indeed the key success factor for the project.

We are supporting our clients to deliver projects in contracting modes, which are not based only on cost-intensive turnkey Engineering, Procurement, and Construction, Installation, and Commissioning (EPCIC) contracts. In EPCIC mode, the owner companies pay for risks that may never materialise as the “risk-premiums” which are built into the cost proposals of the EPCIC contractors. We have been working with companies in split-contracting modes – EPCM modes or through Open Book Estimation (OBE) models. These contractual constructs are more transparent on costs. Transparency helps with optimising the costs and, indeed, the owner companies pay only for the risks that materialise.

By implementing these strategies, we hope to help companies’ monetise their oil and gas assets more efficiently and at a lower cost. We also work with companies and offer solutions to optimise project scopes—ensuring that the same production targets are met using fewer resources, reducing overall capital expenditures. This approach, known as Competitive Scoping or Minimum Technical Scoping (MTS), is widely used by companies like Shell.

The concept of energy equity stems from the principles of social justice. Affordability and reliability are its key characteristics. Improving the quality of life and reduction in poverty levels are its key outcomes.

As a private limited company, we cannot play a lot in this space but we do help companies with engineering and project management consultancy for infrastructure projects that can improve their distribution networks, which in turn can help with providing easier access to fuels and reducing logistics costs. For example, we provided engineering and PMC services for MRPL’s distribution terminal near Bangalore. This terminal improves product distribution to a wider region, ensuring better access to fuel. We are also working with IOCL on cryogenic tank projects for transporting liquefied oxygen. We can work with companies to support the making of ISO tanks for LNG which also works with cryogenic principles. This will help with greater ease of distribution of LNG and their transportation to demand locations like steel mills which can use LNG as a substitute for coal in the furnaces and thereby reduce carbon emissions.

On environmental sustainability, we are involved in renewable energy and carbon reduction projects. While fossil fuels will continue to play a role in India’s energy mix, we must reduce carbon emissions. India currently produces 3.5 billion tonnes of CO₂ per annum, so sustainability efforts are crucial.

We are working as an EPCIC contractor for HPCL to deliver a project that can capture and liquefy CO2 using their patented technology. Carbon capture allows continued fossil fuel use while mitigating its environmental impact. The captured CO₂ can be utilised in various ways, such as for producing synthetic fuels or fertilisers, or can be stored underground in safe geological storages, which could be in depleted oil and gas fields or in saline aquifers.

We are also actively involved in discussions on CCS (Carbon Capture and Storage) projects in India. We have collaborated with a company in Scotland that specialises in subsurface and wells-related engineering for CO2 storage. This gives us the ability to provide end-to-end solutions for CCS to our clients.

Overall, we are working across all three areas—security, equity, and sustainability—to help shape India's energy future.

Que: What role do carbon capture and storage technologies play in the company's energy transition journey?

Ans: We are an enabler of the energy transition. Our company itself has a low carbon footprints as we don’t have operating producing assets. However, we play a key role in helping operating companies reduce their emissions.

India cannot immediately replace oil and gas with alternatives, as they are still essential for our energy needs. However, carbon capture and storage (CCS) allows us to continue using fossil fuels by reducing the carbon intensity of their use.

We work with companies to explore carbon sequestration technologies, including:
• Underground storage – Capturing CO₂ and storing it safely in geological formations.
• CO₂ utilisation – Using captured carbon to create products like fertilisers or synthetic fuels.
• Biogenic CO2 removal – Biochar greatly helps with removal of CO2 from the atmosphere. It is a by-product of waste to energy pathways from biomass. It can store the CO2 into the atmosphere for very long periods.

By integrating these technologies, companies can continue using fossil fuels while significantly reducing their carbon footprint.

Some countries like Germany are phasing out coal-fired power plants by 2038. This will at a cost of billions of dollars. However, India cannot afford such a rapid transition. Instead, our focus should be on minimising emissions while maintaining energy security, which is where CCS plays a critical role.

Que: What is your long-term vision for the company in the energy transition space, and how do you see it evolving over the next decade?

Ans: A senior leader in the Oil and Gas sector in the Middle East once said - "The Stone Age did not end because we ran out of stones." There are still plenty of stones, but their use has evolved. Similarly, fossil fuels will continue to be used, but their role will change.

For India, the solution is not either-or but both—continuing to use fossil fuels while transitioning to cleaner energy sources. Therefore our priorities are:
• Supporting Carbon Capture Utilisation and Storage (CCUS) – Ensuring emissions are captured and utilised or stored instead of being released into the atmosphere.
• Helping companies with faster monetisation of Oil and Gas projects – This includes reducing costs while improving efficiency.
• Gradual transition to greener fuels – Acquiring capabilities for engineering and production of alternative fuels where feasible. For example, Shell shortlisted us for producing a Basic Design Engineering Package (BDEP) for Bio-LNG projects in India. The idea is to convert compressed biogas (CBG) in rural areas into Bio-LNG and then transport it to demand centres using ISO containers. This avoids the high costs of pipeline infrastructure.

The same principle can be applied for faster monetisation of stranded gas reserves. If reserves are too small to justify laying a gas transportation pipeline, we can liquefy the produced natural gas at the well site and transport it in Iso-containers on trucks. This improves accessibility without major infrastructure investments. This technology currently suffers from much higher cost ($18 to $20/MMBtu) compared to the imported LNG at $8 to 12/MMBtu. However, there are significant opportunities for cost reduction here.

We are also actively evaluating entering the plastic circularity sector. This would enable chemical recycling of single-use plastics to return as virgin FEED for plastic manufacturing.

Overall, our long-term goal is to continue enabling energy security while driving a sustainable transition. By leveraging innovative technologies, optimising resources, and focusing on cost-effective solutions, we aim to help India navigate the complexities of the energy transition in a balanced and practical manner.

Globally, 25-30 per cent of CO₂ reduction will come from efficiency improvements, particularly by capturing waste heat from turbine exhausts, streamlining process workflows and optimising overall energy use. Digitalisation will play a key role in this.

For example, consider this IEW venue. It has HVAC systems for air conditioning and other energy-intensive operations. Could these be digitally managed? Absolutely. Even a 1°C adjustment in thermostat settings can result in significant energy savings – up to 3 percent. Digitalisation enables remote monitoring and smart controls, making such optimisations seamless.

dDriven, which is one of our Group Companies, specialises in providing digital solutions to improve productivity, save costs and improve the quality of decision-making by removing biases and making it data-driven. This is a key focus area for the future, and we are committed to bringing these solutions to industry stakeholders at an affordable cost.

Que: How has your experience been so far at the India Energy Week 2025? And how do events like this contribute to the energy sector in India?

Ans: Collaboration is the driving force behind the energy transition. Many of these transition projects (other than Wind and Solar) are NPV-negative on their own, meaning they require government and societal support to be economically viable.

Managing risks is crucial. If a single entity bears all the risk, the project is unlikely to move forward. However, when risks are strategically distributed among multiple stakeholders, the project becomes more feasible. That’s where collaboration plays a vital role.

Events like IEW are instrumental in this process. They provide a platform for networking, knowledge exchange, and business development. They help industry players understand each other’s core competencies, explore synergies, and sometimes even discover new technologies that they weren’t aware of.

Ultimately, these interactions lead to collaborations under various commercial constructs, which drive optimisation, energy efficiency, and higher productivity. The entire energy sector thrives on networks and partnerships, making events like IEW a key enabler for progress.