India Keen to Invest in Oil Projects of Sudan
Published on October 31, 2010 by INVC · 28 Comments
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INVC,,
Delhi,,
India and Sudan have expressed desire to further expand cooperation in the oil & gas sector. In a bilateral meeting held here today, the countries decided to engage their oil companies in greater discussions during the International Conference Petrotech-2010. The Petroleum Ministers of two countries, namely, Shri Murli Deora, Minister of Petroleum and Natural Gas, Govt of India and Dr Lual A. Deng, Minister of Petroleum, Govt of Sudan led the respective delegations at today’s talks.
Shri Deora while welcoming the visiting Minister expressed keen desire of Indian Oil PSUs to further invest in the hydrocarbon sector of Sudan. It was agreed that Sudanese side will make a detailed presentation to the Oil PSUs about forthcoming investment opportunities in the exploration blocks. It was also informed that ONGC’s expertise in enhancing production in the existing fields could be utilized by Sudan. Indian side underlined that ONGC has deployed its best experts in the Greater Nile Oil Project which helped in increasing the production from about 220 thousand barrels of oil per day (BOPD) to 320 thousand BOPD besides raising the oil reserves in the fields. It was also informed that OVL is keen to not only maintain but also increase the crude oil production level in the matured fields at optimum cost through IOR/EOR technology.
The two sides decided that first meeting of the Joint Working Group (JWG) on hydrocarbon sector will be held soon in pursuance of the MOU signed between them earlier. Sudan offered to export more crude oil to India. It was informed that Indian companies like IOC are big importers of crude and would be interested to explore the possibilities in this regard. It was also agreed that IOC will assist in production of Bio-fuels in Sudan.
Indian side offered to impart training to the oil sector personnel of Sudan in its world class facilities in the entire chain of hydrocarbon value chain.
MoS (PNG) Shri Jitin Prasada, Petroleum Secretary, CMD ONGC, Chairman IOC, CMD GAIL, MD OVL were among those present.
The Sudanese Petroleum Minister, Dr. Lual A Deng along with a delegation meeting the Union Minister for Petroleum and Natural Gas, Shri Murli Deora, in New Delhi on October 30, 2010. The Minister of State for Petroleum & Natural Gas, Shri Jitin Prasada and the Secretary, Ministry of Petroleum and Natural Gas, Shri S. Sundareshan are also seen.
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Tags: business, Chairman IOC, CMD GAIL, CMD ONGC, economy, india, invc, Jitin Prasada, MD OVL, Petroleum Secretary
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