India-China inks MoU for co-op in E

New Delhi, Dec 17 (UNI) India and China today inked an memorandum of understanding (MoU) at Beijing for strategic cooperation in Exploration and Production (E&P) activities in the third countries.

Minister of Petroleum and Natural Gas Murli Deora signed the MoU with his counterpart Mr Ma Kai, Chairman, National Development and Reform Commission (NDRC) signifying expanding hydrocarbon cooperation between the two countries.

Mr Deora expressed the hope that the cooperation document will not only give a fillip to joint E&P efforts but also pave the way for national oil companies of the two countries to successfully bid for overseas hydrocarbon assets.

The two leaders recalled the successful visit of Chinese President Hu Jintao to New Delhi last month.

Such cooperation is significant and mutually beneficial as both countries are facing increasing hydrocarbon requirements to fuel their rapidly expanding economies.

Mr Deora was accompanied by Mr M S Srinivasan, Secretary (P&NG), Mr R S Butola, MD, OVL, Joint Secretary (Refineries), Mr Prabh Das and other government officials.

UNI SRS YA ND1442