By IRNA,
New Delhi : Energy hungry India holds talks with Kuwait, Mexico, Indonesia and US for cooperation in oil sector.
Indian delegation led by Murli Deora, Minister of Petroleum and Natural Gas had a series of bilateral meetings with the delegations of different countries on the sidelines of the the 12th International Energy Forum (IEF) meeting at Cancun in Mexico late Tuesday, said an official statement issued here today.
In its meeting with Kuwaiti delegation, Indian side emphasised on more crude oil supplies and criss-cross investments. Murli Deora informed his counterpart from Kuwait Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, Minister of Oil Petroleum Secretary that India is raising its refining capacity significantly which would soon rise to about 250 million metric tonnes.
He added that the India looks greater oil supplies. Suggesting mutual investments, India invited oil companies of Kuwait to invest in the up-coming petrochemical projects of ONGC and IOC at Mangalore and Paradip. Deora extended an invitation to Mr Al-Sabah to visit India.
In the bilateral meeting with the delegation of host country led Ms (Dr) Georgina Kessel Martinez, Secretary of Energy of Mexico, Deora offered keen desire of India oil companies for participation in the Mexican upstream sector and conveyed India´s growing need for crude oil with increase in refining capacity.
Mexican side informed that their laws presently permitting are exploration and production on service contract basis, are under review. The incentive based system under-consideration would help attract more investment which Indian companies could also utilice. Indian side referred to the presence of Indian National Oil Companies in the, upstream sector of nearby countries of Brazil, Venezuela and Columbia
Murli Deora, in a bilateral meeting with his counterpart from Indonesia Mr Darwin Zahedy Saleh, Minister Energy and Mineral Resources, conveyed India´s interest in sourcing LNG from Indonesia.
Indonesian side stated that the present LNG capacities are tied-up and informed that there could be a possiblity later for cooperation in this area. Responding to Indian interest in the Indonesian upstream sector, it was informed that Indonesia would soon come out with new biddings for exploration blocks. This would offer an opportunity for Indian oil companies to participate.
Meanwhile, in a meeting with US Deputy Secretary of Energy Mr Daniel Poneman, US offered to continue its cooperation in the field of frontier area of gas hydrates for undertaking second expedition by India building on the success of the first expedition. Similarly US success in utilising Shale gas to significantly augment its natural gas production was seen as potential area where Deora is accompanied by Petroleum Secretary S. Sundareshan, CMDs of ONGC and IOC, and MD ONGC Videsh.