Norway assures oil sector investment in India

New Delhi, Apr 22: Norway today assured India that it will encourage its oil and gas companies to invest in India, making use of the opportunity being available in respect of 65 exploration blocks.

The assurance was given at a meeting Petroleum and Natural Gas Minister Murli Deora had with his Norwegian counterpart Odd Roger Enoksen on the sidelines of the three-day ''Ministerial Conference: International Energy Forum (IEF)'' being held at Doha, Qatar.

The CEOs of oil majors Chevron from the US and ENI from Italy also called on Mr Deora.

Chevron CEO reassured the Minister about their keen desire to participate in the NELP-VI and CBM-III investment opportunity.

Similarly, ENI expressed keen interest in participating in the Indian hydrocarbon sector. The two companies have attended the roadshows held by India to promote NELP-VI and CBM-III.

Mr Deora and Mr Enoksen had wide ranging discussions for enhancing cooperation between their countries in the hydrocarbon sector, particularly in the upstream activities, an official press note said.

Norway would encourage its oil and gas companies to utilise the investment opportunity offered by India in the form of 55 exploration blocks under sixth round of NELP (NELP-VI) and 10 blocks under third round of CBM (CBM-III).

The Norwegian Companies have considerable experience/expertise in exploration and production, especially in deep waters.

Mr Deora informed his counterpart that NELP-VI and CBM-III bidding offers by India had drawn considerable interests among the exploration and production companies across the world.

The response has been unprecedented to the promotional roadshows held at various places including Delhi, London, Houston, Brisbane, Perth and Kuala Lumpur. This has already translated into record data purchase by the oil companies including the oil majors.

Mr Deora was accompanied by Petroleum Secretary M S Srinivasan and Mr Subir Raha, CMD ONGC during the discussions.

Mr Deora would be meeting the Oil Ministers from Qatar, Egypt and Korea later today. The CEO of another oil major namely Shell would also call on the Indian Minister. He would be delivering a keynote address at the prestigious Ministerial Conference of IEF tomorrow.

The Conference is being attended by the Oil Ministers from 56 countries -- both oil producing and consuming countries including those representing developed and developing nations.

UNI