Deora calls for Russian investments in oil sector

New Delhi, Jun 1 (UNI) Accelerating cooperation in the oil sector, Petroleum Minister Murli Deora has invited Russian oil giants to invest in the country's oil and gas sector and downstream activities.

''There is tremendous potential to further enhance mutual cooperation in the sector,'' Mr Deora said on the sidelines of the UNESCO's Ministerial Conference at Paris late last evening while holding bilateral talks with his Russian and Sudanese counterparts.

Mr Deora further said Indian oil PSUs are also keen to invest in Russia especially in the exploration and production activities.

''Russian companies could utilise the investment opportunities in India in the oil and gas sector in general and in the downstream activities in particular,'' Russia's Industry and Energy Minister Victor Khristenko said.

On the occasion, Sudanese Energy Minister Awad Ahmad Alijaz invited Indian oil and gas companies to participate in the coming round of bidding for exploration blocks in Sudan.

He also lauded the role played by ONGC Videsh Ltd (OVL) in developing Sudanese upstream sector (exploration and production) and the community welfare projects.

UNI