India and Africa draw up hydrocarbon road map

Mar 06, 2008 01:00 AM

India said it has drawn up a road map to intensify cooperation in the hydrocarbon sector with African countries.
"A road map was drawn up, the contours of which envisage hydrocarbon cooperation agreements at the macro level to identify the broad areas of cooperation in the field of exploration and production and refining, stepping up crude oil imports, and exports of petro-products by India, retail marketing of fuels and lubricants by Indian companies in Africa and training of technical and managerial personnel of African nations in hydrocarbon industry management," said Murli Deora, the minister for petroleum and natural gas.

Cooperation between the two sides was agreed upon at the first India-Africa Hydrocarbon Cooperation Conference and Exhibition last November in New Delhi.
India has been striving to acquire oil and gas blocks in various hydrocarbon-rich African countries. ONGC Videsh Ltd., the overseas arm of state-run Oil and Natural Gas Corp., has along with other national oil companies been bidding to buy oil and gas assets in Nigeria and other African countries, the minister said.

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