28-05-08 Oil Indian Limited (OIL) has signed a Rs 100-crore deal with Polish company Geofizyka Torun (GT) to locate hydrocarbon deposits in Rajasthan. Polish firm GT will provide geophysical service using the "3D seismic survey" technology for the project.
The deal was signed by OIL director (operations) N.M. Borah and his counterpart in GT Stanislaw Zon in a business meeting organised by Ficci with a visiting Polish business delegation. The delegation, headed by minister of state for economy Adam Szenjfeld, is in New Delhi to discuss investment opportunities in sectors such as energy, oil, gas and dairy.

The two sides discussed ways to enhance bilateral economic relations through joint ventures and enhancing flow of foreign direct investment at the meet. Department of Industrial Policy and Promotion secretary Ajay Shankar stressed on the role of transition of both economies through globalisation in achieving greater profits.
“Both countries have dynamic private sectors and a vibrant economy. This is the just the right juncture to establish partnership to achieve what both countries hope to achieve” he said.

Since 2002-03, India’s total trade with Poland has swelled by 26 % to $ 423 mm in 2006-07. Further, India has received strong FDI from Poland, with major investments from Polish companies TZMO and Polfarma. Poland’s accession to the European Union gave a boost to its trade in 2004.
“All macroeconomic indicators have had record performance since 2004,” said Adam Szenjfeld. The delegation, including Marian Zalewski, under-secretary of State, Ministry of Agriculture and Krzysztof Hubert Gbpaszkiewicz, under-secretary of State, Ministry of Treasury, also stressed on tourism and cultural exchange with India.