Sun Petrochemicals

What Sun Petrochemicals does

Sun Petrochemicals (Sun Petrochemicals Pvt. Ltd.) is a privately held Indian energy and chemicals company headquartered in Mumbai, founded in 1995 and operating with 251-500 employees. Its public-facing identity combines a legacy footprint in acetylene and carbon products with two active operational lines: oil and gas seismic data acquisition services and pumped storage hydropower project development. The company runs an enterprise field-sales go-to-market, targeting government-owned power generation utilities and oil and gas exploration companies.

In oil and gas, Sun Petrochemicals delivers high-resolution seismic survey services using Sercel's WiNG 3C nodal seismic system with QuietSeis MEMS technology, enabling cable-free data acquisition and marking India's first 3C MEMS nodal seismic survey at the Khushi Oilfield in Gujarat. Revenue is generated through professional-services contracts for reservoir characterization and monitoring. In energy infrastructure, the company has been selected alongside GreenCo Energies by Bihar State Power Generation Company Ltd. to develop 2.12 GW of closed-loop pumped storage hydropower projects in Nawada district, Bihar, with a combined INR 13,000 crore (~USD 1.55B) investment commitment, expected to create approximately 8,000 construction-phase jobs. The company's revenue model in hydropower centers on long-cycle managed services and project development fees tied to grid-stability and peaking power generation.

Leadership comprises Dilip Shanghvi as founder, Vishal Mehta as CFO, and Padam Singh as President and Head of E&P. The firm serves a narrow set of named anchor customers (Khushi Oilfield for seismic; Bihar State Power Generation Company Ltd. for hydropower), and its expansion pivot from chemicals and oilfield services toward large-scale renewables-adjacent infrastructure is the principal strategic theme across 2025-2026 disclosures.

Name

Sun Petrochemicals

Legal name

Sun Petrochemicals Pvt. Ltd.

Website

https://sunpetro.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

251–500 employees

Short description

Sun Petrochemicals is a privately held Mumbai-based Indian energy company founded in 1995, providing oil and gas seismic data acquisition services and developing 2.12 GW of pumped storage hydropower projects in Bihar alongside GreenCo Energies.

Ownership category

akta.pro rank

Product category

Energy Infrastructure Services

NAICS

Geophysical Surveying and Mapping Services (541360), Support Activities for Mining (213)

SIC

Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Pumped Storage Hydropower (PSH) (New Build, Expansion, Conversions) (EUAMADAJ)

akta.pro secondary industry

Seismic & Geoscience Services (Acquisition, Processing, Interpretation) (EUALABAK)

Keywords

• Seismic data acquisition
• Pumped storage hydropower
• Oil and gas exploration
• Energy infrastructure development
• Reservoir characterization

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel

Revenue model

1. Pumped Storage Hydropower Project Development: Sun Petrochemicals develops large-scale pumped storage hydropower projects in partnership with state government entities. Revenue is generated through project development, construction, and likely long-term power generation or development fees.
2. Seismic Survey Services: Provides seismic data acquisition services for oil and gas exploration using advanced nodal systems. Revenue is generated through service contracts for reservoir characterization and monitoring.

Go-to-market motion1 record

Core offering

Sun Petrochemicals provides seismic data acquisition services for oil and gas reservoir characterization using advanced 3C MEMS nodal technology, and develops large-scale pumped storage hydropower projects in partnership with government entities for grid reliability and peaking power generation in India.

Product overview

Sun Petrochemicals is an energy infrastructure company offering specialized services in two distinct areas: (1) seismic data acquisition services for oil and gas reservoir characterization using advanced 3C MEMS nodal technology, and (2) large-scale pumped storage hydropower project development for grid reliability. The company operates in India's energy sector, partnering with technology providers like Sercel for seismic equipment and collaborating with government entities and other developers for hydropower projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Seismic Data Acquisition Services
• Pumped Storage Hydropower Development

Quantifiable outcome

• First 3C MEMS nodal seismic survey in India enabling superior reservoir characterization
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and major.

• SercelcoreTechnology or IntegrationSercel, a geophysical equipment company, has partnered with Sun Petrochemicals to provide its WiNG 3C nodal seismic system for India's first 3C MEMS nodal seismic survey at Gujarat's Khushi Oilfield. The partnership enables cable-free, high-resolution seismic data acquisition using QuietSeis MEMS technology for improved reservoir characterization and monitoring.
• GreenCo EnergiesmajorStrategic or Co-development PartnerGreenCo Energies and Sun Petrochemicals were jointly selected by Bihar State Power Generation Company Ltd. to develop 2.12 GW of pumped storage projects in Nawada district. Both developers will implement closed-loop systems using water from local rivers, with a combined investment of INR 13,000 crore.
• Bihar State Power Generation Company Ltd.majorStrategic or Co-development PartnerBihar State Power Generation Company Ltd. selected Sun Petrochemicals (alongside GreenCo Energies) to develop 2.12 GW of pumped storage projects in Nawada district. The project represents a significant government contract for infrastructure development supporting grid reliability in northern India.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Greenko Group: Indian renewable energy IPP with significant pumped storage ambitions (e.g., Pinnapuram integrated renewable-energy-storage project); a competing PSH developer and natural counterpart for state-level storage concessions.
• Tata Power: Large Indian integrated power company with a growing renewables and pumped storage portfolio; competes with Sun Petrochemicals for Indian PSH and grid-scale energy storage opportunities.
• Schlumberger (SLB): Largest global oilfield services provider offering geophysical acquisition and reservoir characterization; competes with Sun Petrochemicals in seismic services as a broad incumbent with deep R&D and global reach.
• NHPC Limited: India's largest hydropower developer and a leading pumped storage developer; competes with Sun Petrochemicals for state and central PSH tenders and brings a much larger balance sheet and project pipeline.
• SJVN Limited: Major Indian hydropower and pumped storage developer actively building multi-gigawatt PSH portfolios; competes with Sun Petrochemicals for state-level pumped storage concessions.

Others

• ONGC: India's largest upstream oil & gas operator and a primary consumer of seismic acquisition services; comparable not as a competitor but as a key potential customer for Sun Petrochemicals' reservoir-characterization services.

Direct peers

• GreenCo Energies: Joint-venture co-developer selected with Sun Petrochemicals by Bihar State Power Generation Company Ltd. for the 2.12 GW Nawada pumped storage project (INR 13,000 crore combined investment), making it the closest direct peer in the Indian PSH development segment.
• CGG: Global geophysical services company providing seismic data acquisition and reservoir characterization to oil & gas operators; competes with Sun Petrochemicals' seismic services line for upstream E&P survey contracts.
• BGP (CNPC): One of the world's largest land-based seismic acquisition contractors and a Sercel-equivalent technology operator; competes with Sun Petrochemicals in the seismic survey services market and on multi-client reservoir characterization projects.
• TGS: Provider of multi-client seismic data and subsurface imaging services for oil & gas exploration; directly comparable to Sun Petrochemicals' seismic acquisition business and target customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sun-petrochemicals

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sun Petrochemicals