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India will urge Iraq to enhance crude supply
Sujay Mehdudia
| Oil Minister coming on 4-day visit |
Acquisition of oil, gas assets likely to come up before Joint Working Group OVL keen on exploring block awarded during Saddam regime
Hussein al-Shahristani
NEW DELHI: Apart from seeking enhanced crude supply, India is likely to ask Baghdad to honour an agreement on award of the Tuba oilfield to a consortium led by ONGC Videsh Limited (OVL), Reliance and Sonatrach of Algeria during the visit of Iraqi Oil Minister Hussein al-Shahristani.
The issue of acquisition of oil and gas assets and more active participation in exploration and production activities in the hydrocarbon sector is also likely to come up before the Joint Working Group during a meeting between Mr. Shahristani and Petroleum and Natural Gas Minister Murli Deora here on Friday.
Highly placed sources said the Bharat Petroleum Corporation, the Indian Oil Corporation and Hindustan Petroleum Limited, which are importing around 10 million tonnes of crude from Baghdad now, want a commitment for supply of another four million-five million tonnes. The Saddam Hussein regime awarded block 8 to OVL but exploration and production in Iraq came to a standstill during the last few years. OVL is keen on starting work in this block.
India is likely to offer help in building refineries in the war-torn nation in return for exploration rights.
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