India, Brazil discuss enhancing cooperation in Oil and Gas sector

October 15th, 2008 - 4:18 pm ICT by ANI  

New Delhi, Oct 15 (ANI): Union Minister of Petroleum and Natural Gas Murli Deora met Miguel Jorge, Minister of Development, Industry and Foreign Trade of Brazil here today.
During the meeting, the two Ministers discussed measures to strengthen further ties of cooperation between the two countries in the oil and gas sector.
They also exchanged views on the use of ethanol in transport sector.
ONGC Videsh Limited (OVL) has significant presence in Brazil, having invested in the year 2006 an offshore block (BC 10) in Campos Basin of Brazil and acquired exploration rights of two offshore blocks in Brazil in March thisyear
ONGC and Petrobras, the premier Oil and Gas Company of Brazil, are strengthening their partnership by swapping participating interests in three blocks in each others country. OVL and Petrobras are working jointly in an oil block in Colombia.
Bharat Petro Resources Ltd., a subsidiary of Bharat Petroleum Corporation Limited, has acquired 10 offshore petroleum blocks in Brazil in September, in partnership with Videocon Industries Limited. (ANI)

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