Utilityof oil products worldwide stood at only more than 90 million barrels per day by the end of 2013, and was forecasted to grow to more or 91 million by the end of 2014. Petroleum businesses were constantly exploring the planet for new oil reserves to fulfill this intense demand for fossil fuels. Because three-quarters of the earth was water, it was clear that these oil reserves were largely underwater; yet, until the end of 2013, this chance had been explored by very few players. Although reaching deep water drilling sites introduced various challenges - environmental, political, technological, etc. - offshore exploration was the future of the petroleum and gas sector.
Due to rising successful campaigns, Cairn India was mostlypositioned in market for offshore quest. Getting and capitalizing on the opportunity of offshore quest would give it an edge, but the question remained: Would it be better to gain the prime mover advantage or wait for other players to start the procedure in order that it may learn from others mistakes and reap gains afterwards?
Should Cairn India Venture into Offshore Drilling case study solution
PUBLICATION DATE: January 06, 2015 PRODUCT #: W14627-HCB-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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