Deora returns from four-nation tour

New Delhi, Apr 27 (UNI) Minister of Petroleum and Natural Gas Murli Deora returned early today after a successful four nation visit of Syria, Algeria, Egypt and Iran.

The visit was marked by the highest level diplomatic parleys to explore opportunities for oil PSUs in upstream, mid and down streams of the petroleum sector.

The aim was to secure participation in assets and business opportunities towards larger national goal of ensuring enhanced energy security for the country.

''The highlight of the visit was meetings with top leadership of these countries including Presidents of Iran, Egypt and Algeria and Deputy PM of Syria apart from the meeting with Prime Ministers of Egypt and Algeria,'' an official statments said.

Mr Deora was accompanied by Petroleum Secretary Mr M S Srinivasan and the CEOs of India's main public sector oil and gas companies namely, Oil and Natural Gas Corporation (ONGC); Indian Oil Corporation (IOC), Gas Authority of India Limited (GAIL) and Engineers India Limited (EIL).

During his visit, Mr Deora highlighted India's growing hydrocarbon needs to fuel its strong economic growth and pointed out to the synergy that exists between a large energy consuming developing economy like India and the hydrocarbon rich countries like Syria, Algeria, Egypt and Iran.

Arriving in Syria, Shri Deora met the Deputy Prime Minister Abdullah Dardari and held delegation level talks with his counterpart Mr Sufian Al-Alao, Minister of Petroleum and Mineral Resources of Syria at Damascus in which a number of projects and key areas were identified for further enhancing cooperation between the two countries in the hydrocarbon sector spanning exploration and production, refinery modernisation and new projects, development of gas infrastructure.

Syria agreed to work closely together with Indian companies, and to consider the request of Indian side for allocating blocks on preferential basis and provide information to Indian companies about 7 off-shore blocks proposed for bidding later this year.

On his way back, Mr Deora visited Iran and called on the President of Iran Mahmoud Ahmadinejad.

The discussions during the meetings covered the contract for supply of five million tonnes of LNG per annum from Iran to India which was signed in June 2005. He stressed the need for early implementation of the LNG contract and reiterated India's commitment to the Iran-Pakistan-India gas pipeline project.

President Mahmoud Ahmadinejad reassured the Minister of Petroleum and Natural Gas that the Iranian side is also committed to the projects, which will be implemented to mutual satisfaction. In particular, the President advised the Iranian Oil Ministry to look at ways to ensure early implementation of the LNG contract.

Mr Deora further told the President that India requires more volumes of gas and additional volumes can be imported from Iran for which the price can be the current market price. Iran agreed to examine this proposal of India.

The visit has contributed to creating a conducive ambience for Indian oil PSUs to identify and conclude specific deals of mutual benefit in the identified areas.

UNI