Indo-Romanian talks on oil & gas next week

New Delhi, March 27 | Updated: Mar 28 2005, 06:02am hrs
India and Romania will be holding talks for co-operation in the oil and gas sector next week.

A high-level official-cum-business delegation led by Cristian Istodorescu, director-general, ministry of economy and commerce, Romania, is coming on a week-long visit on April 28.

According to officials in the Romanian embassy, The delegation, which includes representatives of the Romanian oil & gas companies, will have meetings with senior officials in the ministry of petroleum and natural gas. They will also have meetings with officials from ONGC, IOC, GAIL, and EIL.

The business delegation is on a mission to India to understand and explore business opportunities in the oil & gas sector between the two countries, embassy officials pointed out.

Our country has considerable expertise in oil exploration, drilling and refining of petroleum, and we are looking for co-operation in the oil and petroleum sector, they said.

Senior petroleum ministry officials said that the delegation would explore potential tie-ups in the sector. Currently, both the countries are negotiating a memorandum of understanding (MoU) in the field of oil and gas.

Under the proposed MoU, the parties intend to co-operate in research and development, oil and environmental issues, including energy policy such as oil energy efficiency, environmental protection and joint projects. Delegates will be going to Mumbai to visit some oil refineries too.

According to sources, this visit is also a preparatory visit for the forthcoming visit of petroleum minister Mani Shankar Aiyar to Bucharest next month.

The delegation will also attend the inter-session consultations prior to the 17th session of the Indo-Romanian joint commission for economic, technical and scientific cooperation. The delegation is also expected to participate in seminars organised by Ficci and CII.