India seeks higher crude oil supplies from Angola

October 31st, 2010 - 9:24 pm ICT by ANI  

New Delhi, Oct.31 (ANI): India sought more crude oil supply from Angola on term contract during a bilateral meet of Petroleum Minister Murli Deora and his Angolan counterpart Jose Maria Botelho de Vasconcelos here today.

The visiting Minister agreed to consider the proposal and supported enhancing cooperation between the two countries in various areas of hydrocarbon sector.

The two ministers also agreed for signing of an Memorandum of Understanding (MoU) which will help in speeding the up the process of cooperation.

Indian side further expressed its keen desire to pursue investments in the upstream projects.

It was stated that oil PSUs led by ONGC Videsh Ltd (OVL) are looking forward for the opportunities in the forthcoming round of exploration blocks as also for bilateral projects.

IOC, a leading refining and marketing PSU is also exploring possibility of participating refinery projects in Angola. India offered training facilities to the oil personnel of Angola. Indian side also expressed interest in sourcing LNG from Angola. It was suggested that GAIL and Petronet LNG Ltd (PLL) would hold discussions with the Angolan companies in this regard.

Mr. Deora, following his bilateral meeting, inaugurated Petrotech 2010 Exhibition at Pragati Maidan.

He was joined by the visiting Ministers Angola,Sudan and Minister of State Petroleum and Natural Gas, Jitin Prasad. (ANI)

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