India shows interest in African oil and gas fields
Wednesday, 9 December 2009
NEW DELHI, Dec 8 (Commodity Online): India plans to expand its quest for liquefied natural gas (LNG) by participating in both existing and upcoming LNG exploration and production ventures in Africa.
Speaking at the second India Africa Hydrocarbons Conference organised by Petroleum Ministry in New Delhi, Petroleum Minister, Murli Deora said, the country's oil and gas companies are ready to have major part in the oil and gas exploration and production opportunities in Angola, Ghana, Sudan, Nigeria, Uganda and Cote D'Ivoire.
The Minister said that ONGC Videsh Ltd have already invested about $12 billion in the overseas assets, reaching 8.8 million tonnes of oil and gas last year. India's investment in Sudan has been mutually beneficial, he said, reiterating that India's keenness to invest in many such ventures in Africa in the years ahead, he added.
In response to the observations by the FICCI President, Harsh Pati Singha-nia, said that India had emerged as a major refining hub. The total installed capacity of refineries in India is 177.97 MMTPA and is not only meeting the domestic demand of petroleum products but also exporting $25 billion worth of petroleum products annually.
The minister offered expertise to the Africa countries in several fields, including in laying cross-country pipelines, setting up terminals and depots and LPG plants.
Speaking at the second India Africa Hydrocarbons Conference organised by Petroleum Ministry in New Delhi, Petroleum Minister, Murli Deora said, the country's oil and gas companies are ready to have major part in the oil and gas exploration and production opportunities in Angola, Ghana, Sudan, Nigeria, Uganda and Cote D'Ivoire.
The Minister said that ONGC Videsh Ltd have already invested about $12 billion in the overseas assets, reaching 8.8 million tonnes of oil and gas last year. India's investment in Sudan has been mutually beneficial, he said, reiterating that India's keenness to invest in many such ventures in Africa in the years ahead, he added.
In response to the observations by the FICCI President, Harsh Pati Singha-nia, said that India had emerged as a major refining hub. The total installed capacity of refineries in India is 177.97 MMTPA and is not only meeting the domestic demand of petroleum products but also exporting $25 billion worth of petroleum products annually.
The minister offered expertise to the Africa countries in several fields, including in laying cross-country pipelines, setting up terminals and depots and LPG plants.