India emerges as a global R&D hub for oil & gas giants at IEW 2025

Posted on 13 Feb 2025

Leading global oil and gas companies have endorsed India's evolution as a premier destination for their Global Capability Centres (GCCs), emphasising the country's transformation from a cost-effective back-office location to a strategic hub for innovation and research and development.

On Thursday, leading oil and gas companies, including ExxonMobil, Shell, Chevron, bp, and SLB, participated in India Energy Week (IEW) 2025, sharing their insights during a session titled ‘India’s Global Capability Centres — Harnessing the Evolution of Oil & Gas R&D.’

Monte Dobson, CEO of ExxonMobil India, highlighted "talent at scale" as India's most compelling advantage, while Shell's VP of Engineering Technology, Ajay Mehta, emphasised that wage arbitrage is now the least significant factor in their Indian operations. Shell's GCCs in Chennai and Bengaluru currently service 35 global assets, focusing on cutting-edge engineering and digital technology solutions, Mehta said.

The rapid growth trajectory of these centers is exemplified by bp group, which has scaled to over 4,000 personnel since 2021. Varsha Singh, VP of GBS India at bp group, noted that their facility has become central to global operations, particularly in developing digital twins and advanced analytics solutions.

SLB, an early mover in 2006, has successfully grown to 5,000 employees across five centers, demonstrating the sustainable growth potential in India's GCC ecosystem, Lalit Aggarwal, MD, India Region, SLB said.

Dr. Alok Sharma, Director, R&D, IndianOil Corporation Limited said the company is leveraging its R&D capabilities to advance India's energy transition goals, developing innovative solutions in biofuels, fuel cell technology, and sustainable aviation fuel.

The industry leaders collectively projected strong growth potential for the energy equipment sector, expected to reach $200 billion globally by 2030, presenting significant opportunities for India to increase its market share through its expanding GCC capabilities.

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