India and Angola agree on cooperation in hydrocarbon sector
India and Angola said that the two countries will enter into Memorandum of Understanding (MoU) to provide an
overarching framework for cooperation in the hydrocarbon sector.
This was decided in a meeting between visiting Indian Petroleum and Natural Gas Minister Murli Deora and Angola's
Petroleum Minister Angola Jose Maria Botelho de Vasconeles in Luanda. The two Ministers leading high-level
delegations had wide ranging talks in the areas of exploration and production, natural gas operations, refinery
construction and upgradation, training and consultancy.
During the meeting a MoU was signed between ONGC Videsh Ltd. (OVL) and the National Oil Company of Angola namely,
Sonangol, for cooperation in the exploration sector.
OVL, which is partnering Sonangol in their South Pars acreage in Iran, offered to enter joint venture operations in
the existing deep-water blocks of Sonangol. The Indian company has offered to participate in the next round of
bidding for exploration blocks in Angola withSonangol.
Meanwhile, GAIL expressed its desire to enter into a MoU with their counterparts to take forward cooperations in the
areas of natural gas operations. The company further evinced its interest in participating in the next LNG train
project of Angola besides procuring LNG from the African nation.
The Indian gas company offered to train the Angolan personnel in the gas technology fields like transmission,
distribution and city gas projects.
The Indian Oil Corporation offered its assistance in operations and upgradation of existing refineries besides
providing operation and maintenance support to the petroleum pipelines in Angola.
The Angolan side conveyed their interest in the possibility of IOC's assistance in construction of new refineries in
Angola. Both sides also assured to respond to the proposals for cooperation expeditiously.
