New Delhi

India to enhance energy ties with Venezuela, Nigeria

NEW DELHI: Utilising the day-long opportunity thrown up by the Jeddah summit of oil consuming and producing nations, India has sought enhancement of its energy ties with Venezuela and Nigeria during a round of bilateral talks on the occasion.

Apart from trying to settle the dust on the IPI pipeline deal, Petroleum and Natural Gas Minister Murli Deora held parleys with his counterparts from Venezuela and Nigeria to seek enhanced stake in the oil and gas assets of the two countries and cooperation at various levels, including technical assistance in exploration and production.

Mr. Deora met Venezuela’s Petroleum Minister, Rafael Ramirez and reviewed the progress of bilateral cooperation since the two met at Caracas in April this year. Both expressed satisfaction at the progress made in implementing the Joint Venture between Oil and Natural Gas Corporation Videsh Limited (OVL) and PDVSA (Venezuela) for development of San Cristobal oil field.

Mr. Deora urged Mr. Ramirez to further strengthen the relationship between the two nations and sought stakes in exploration of other oil and gas blocks in joint collaboration with the PDVSA.

Mr. Deora is understood to have offered technical assistance to the Venezuela government for exploration of oil and gas assets as also partnership in setting up an oil refinery. India also offered to assist Venezuela in putting in place a network of Piped Natural Gas (PNG) with the assistance of Gas Authority of India Limited (GAIL).

Similarly, Mr. Deora also had a bilateral meeting with the Nigerian Energy Minister, Odein Ajumogobia that covered various activities in the hydrocarbon sector. The two sides reviewed the progress of the existing projects and expressed satisfaction on the smooth working of these projects. Presently OVL-OMEL joint venture has 3 blocks while OVL and OIL-IOC has participating interest in one exploration block each. Mr. Deora sought support for allotment of more exploration blocks to Indian companies in Nigeria. He suggested favourable long-term relations in supply of crude oil and Liquefied Natural Gas (LNG) to India.

The Nigerian Minister assured that he would positively consider the issues in view of the long-standing friendly relations between India and Nigeria.

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