India, China sign MoU on hydrocarbon

New Delhi, Dec 17 (UNI) India and China today inked an MOU for strategic cooperation in Exploration&Production (E&P) activities in third countries signifying expanding hydrocarbon cooperation between the two.

The MoU was signed by Petroleum and Natural Gas Minister Murli Deora with Mr Ma Kai, Chairman, National Development and Reform Commission (NDRC) of China at Beijing, an official release said here.

On this occasion, the two ministers said the MoU will give a fillip to joint E&P efforts and pave the way for National Oil Companies of India and China to successfully bid for overseas hydrocarbon assets.

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

Both countries recalled the successful visit of Chinese President Mr Hu Jintao to New Delhi last month.

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