New Delhi, Mar 3 (UNI) Petroleum and Natural Gas Minister Murli Deora today called for enhanced bilateral cooperation between India and Romania.
Mr Deora emphasised the need for identifying new opportunities, tapping and utilising potential for mutual benefit in oil and gas sector, while addressing the inaugral session of Indo-Romanian Joint Working Group on oil and natural gas.
He suggested that companies of two countries should collaborate in exploration not only in India but also in third countries. He offered to share Indian expertise and experience in revamping and modernising refineries.
Mr Deora also informed that a research project is on the anvil, which will facilitate combined work by two sides for geological studies of the Himalayan belt. This will open a new vista for cooperation in the Indian sub-continent.
Referring to the rich history of long standing friendly relations between India and Romania, Mr Deora acknowledged valuable contribution of Romania in the development of oil and gas sector.
Romania had supplied first oil rig to India in March 1956, along with many other drilling rigs and work-over rigs in the early days of oil and gas development, some of which are still operational.
Varujan Vosganian, Minister of Economy and Finance, who is leading the Romanian delegation, stressed the need for boosting bilateral cooperation between India and Romania, particularly in the energy sector.
He added that Romania regards India as one of the most attractive investment destinations.
Dr Varujan offered participation of the Romanian companies in building oil and gas storages, pipelines and other infrastructure in which Romania has expertise and specialization.
Referring to the contribution of Romania in the development of Indian oil and gas sector, the visiting Minister said the high GDP growth rate and vast natural resources of India makes it a priority country for Romania in Asia.
UNI PDT SR AS2146