Overseas equity oil development for augmenting energy security: Study of the critical factors in Indian context

Abstract

This study explores the issues of equity oil development strategy for augmenting energy security and attempts to analyse the factors influencing cross border equity oil development. India’s multi-pronged energy policy strategies comprise enhancing domestic exploration, supply diversification, demand side management, and securing long term fossil fuel supplies through overseas equity oil development. Any one of the strategies shall not work in isolation and therefore the component of equity oil development assumes significance to India’s energy security ecosystem. This paper employs a quantitative approach taking into account the output of literature review and questionnaire survey to analyse the determinants influencing equity oil development from theoretical and practical perspectives. The study concludes that equity oil development in the Indian energy security context are influenced by long term stable policy, concessional state funding, resource pooling, decentralisation, and knowledge and technology transfer. The findings in this paper and analysis would assist policy makers to understand the key determinants for geo-strategic planning for securing energy resources in the long term towards augmenting energy security of India.