India eyeing oil production opportunities in Africa

December 7th, 2009 - 2:47 pm ICT by IANS  

New Delhi, Dec 7 (IANS) India is looking to participate in “exploration and production opportunity” in Africa and to be a part of the continent’s natural gas market, Petroluem Minister Murli Deora said Monday.
“We are particularly keen to participate in upcoming exploration and production opportunity in Angola, Ghana, Sudan, Nigeria, Uganda and Cote d’Ivoire,” Deora said at the India Africa Hydrocarbon Conference here.

“Our companies are also interested in farm-in opportunities in producing blocks specially in Libya, Algeria and Egypt,” he said.

ONGC Videsh Ltd, the overseas arm of state-owned explorer Oil and Natural Gas Corp (ONGC), is thinking of setting up a greenfield refinery in Nigeria.

On the downstream sector, Deora said India was ready to offer African countries expertise in several fields including laying cross-country pipelines, setting up LPG terminal and depot plans and marketing and distribution of petroleum products.

Speaking about India’s interest in liquefied natural gas (LNG), Deora said: “Indian companies are interested in sourcing LNG as equity participation in existing and upcoming terminals in Africa.”

Deora emphasised that India’s approach to Africa is building “an enduring partnership”.

“Besides participation in oil and gas development projects, our companies have also taken up some community development programmes in Africa. We are committed to continue with the principle of inclusive growth in future also,” he said.

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