Petroleum Minister Murli Deora will visit Libya and Yemen this week to secure oilfields and refinery business for the Indian public sector firms, who are expanding globally to meet the country's growing energy needs.
Deora's discussion with Shukri Ghanen, Chairman, National Oil Corporation of Libya is likely to lead to signing of MoU to provide a framework for cooperation in oil and gas sector, a press release issued by his ministry said.
The Minister will lead a high level delegation comprising Petroleum Secretary M S Srinivasan, Joint Secretary Anil Kumar Jain, Indian Oil Corp chairman S Behuria, Oil India Ltd chairman and managing director M R Pasrija, ONGC Videsh Ltd managing director R S Butola and Engineers India Ltd director R K Saxena on the five-day visit beginning tomorrow.
The memorandum of understanding would facilitate project specific agreements for exploration and production and downstream activities.
"OIL-IOC consortium intends expanding their participation in the Libyan E&P sector where they have earlier won two exploration blocks. Similarly, OVL is also exploring further E&P ventures beyond their success in securing an exploration block in the last round of auction in December," it said.
EIL is scouting for engineering and construction projects along the entire chain of oil and gas activities. The company already has an office in Libya to make an effective presence in this hydrocarbon rich nation.
IOC would also be looking at participation in refinery up-gradation-expansion projects in Libya.
In the second leg, Deora would lead the delegation to Yemen, leaving Tripoli on February 2.
"Besides holding talks with Yemen's Minister of Oil and Minerals Khalid Mahfoudh Bahah for expanding cooperation in the hydrocarbon sector, the delegation is also expected to visit proposed site for downstream hydrocarbon projects like refineries and petrochemicals," the release said.
Khalid had earlier during the month invited Deora to visit Yemen for first hand knowledge of the investment opportunities in Yemen.
The Minister, speaking at the Petrotech conference, had invited Indian investment in the oil and gas sector especially in the downstream petroleum sector.
Deora's discussion with Shukri Ghanen, Chairman, National Oil Corporation of Libya is likely to lead to signing of MoU to provide a framework for cooperation in oil and gas sector, a press release issued by his ministry said.
The Minister will lead a high level delegation comprising Petroleum Secretary M S Srinivasan, Joint Secretary Anil Kumar Jain, Indian Oil Corp chairman S Behuria, Oil India Ltd chairman and managing director M R Pasrija, ONGC Videsh Ltd managing director R S Butola and Engineers India Ltd director R K Saxena on the five-day visit beginning tomorrow.
The memorandum of understanding would facilitate project specific agreements for exploration and production and downstream activities.
"OIL-IOC consortium intends expanding their participation in the Libyan E&P sector where they have earlier won two exploration blocks. Similarly, OVL is also exploring further E&P ventures beyond their success in securing an exploration block in the last round of auction in December," it said.
EIL is scouting for engineering and construction projects along the entire chain of oil and gas activities. The company already has an office in Libya to make an effective presence in this hydrocarbon rich nation.
IOC would also be looking at participation in refinery up-gradation-expansion projects in Libya.
In the second leg, Deora would lead the delegation to Yemen, leaving Tripoli on February 2.
"Besides holding talks with Yemen's Minister of Oil and Minerals Khalid Mahfoudh Bahah for expanding cooperation in the hydrocarbon sector, the delegation is also expected to visit proposed site for downstream hydrocarbon projects like refineries and petrochemicals," the release said.
Khalid had earlier during the month invited Deora to visit Yemen for first hand knowledge of the investment opportunities in Yemen.
The Minister, speaking at the Petrotech conference, had invited Indian investment in the oil and gas sector especially in the downstream petroleum sector.
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