Deora invites investments from CIS countries in oil

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New Delhi, Nov 25 (UNI) Petroleum Minister Murli Deora today invited the CIS firms, saying the possible areas for investments include Greenfield refineries and petro-chemical projects, exploration and production through New Exploration Licensing Policy (NELP).

Speaking at the inaugural session of India-CIS Roundtable here, Mr Deora said India is seeking a greater ''synergy in energy'' with CIS countries.

He also referred to the existing cooperation and projects which include Sakhalin-I project in Russia, discussions on import of natural gas from Turkmenistan and on business opportunities in Kazakhstan, Uzbekistan and Azerbaijan.

The Roundtable has been jointly organised by the Petroleum Ministry and FICCI.

Elaborating the areas of interest for Indian companies in CIS countries, Mr Deora said, ''we are ready to associate ourselves with gas processing and gas based petro-chemical projects, assist in modernisation and setting up refineries, impart training to hydro-carbon sector personnel of these countries in the excellent in-house capabilities with our oil PSUs.'' He emphasised that the connectivities and linkages of strong historical and cultural ties between India and CIS countries should be utilised for greater common benefit in the hydro-carbon sector.

In his address as Chief Guest on the occasion, Russian Energy Minister Sergey Shmatko called for long-term strategic relations between India and Russia in the hydro-carbon sector.

He said he has proposed a joint working group for encouraging joint enterprise between the companies of two countries during his bilateral meeting with Mr Deora in the morning.


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