India is reportedly working with Canada to explore technologies for shale gas exploration in the country. “The premier of Province of Alberta, Canada is expected to offer Indian upstream companies like ONGC state-of-art fracking technologies, to develop the vast potential of shale in this country,” said Dr Veerappa Moily, Union Minister for Petroleum & Natural Gas, during the Petrotech 2014 event held in Greater Noida from January 12-15, 2014.
In exchange, Indian national oil & gas companies are expected to increase their investments and presence in the Canadian hydrocarbon sector. A term contract for Canadian crude is under finalisation by Indian Oil Corporation. Dr Moily informed that the Canadian government would consider Indian suggestion to review its investment norms to facilitate participation by Indian companies.
The Ministry also held bilateral meetings with ministerial delegations of Ecuador, Uganda, Sudan, and Azerbaijan to open up vast possibilities for cooperation in exploration (both offshore & onshore), petrochemicals, refineries, providing training to their oil & gas personnel, etc. A joint Indo-Ugandan working team is under formation to look into opportunities for cooperation in the newly opened up Ugandan hydrocarbon sector.
Similar opportunities are expected to be leveraged in Ecuador, especially in exploration of oil and gas, petrochemicals and urea. “Sudan and South Sudan are coming to terms with the emerging opportunities in global cooperation and Indian companies are tapping the potential opportunities. Two blocks have been offered to India,” informed Dr Moily. ONGC Videsh Limited is already present in Sudan in a big way and the future may see the presence expanding its frontiers.
Azerbaijan has also invited upstream Indian companies like ONGC to participate in its oil and gas industry and enable skill development in the new country. “It is a full cycle for skill development, as ONGC learnt the oil business from the former USSR, and now imparting the skills to Azerbaijan,” said Dr Moily. Indian Oil Corporation has a term contract for Azeri crude also while BPCL and HPCL too were keen to enter term contract for sourcing crude oil from Azerbaijan.
In exchange, Indian national oil & gas companies are expected to increase their investments and presence in the Canadian hydrocarbon sector. A term contract for Canadian crude is under finalisation by Indian Oil Corporation. Dr Moily informed that the Canadian government would consider Indian suggestion to review its investment norms to facilitate participation by Indian companies.
The Ministry also held bilateral meetings with ministerial delegations of Ecuador, Uganda, Sudan, and Azerbaijan to open up vast possibilities for cooperation in exploration (both offshore & onshore), petrochemicals, refineries, providing training to their oil & gas personnel, etc. A joint Indo-Ugandan working team is under formation to look into opportunities for cooperation in the newly opened up Ugandan hydrocarbon sector.
Similar opportunities are expected to be leveraged in Ecuador, especially in exploration of oil and gas, petrochemicals and urea. “Sudan and South Sudan are coming to terms with the emerging opportunities in global cooperation and Indian companies are tapping the potential opportunities. Two blocks have been offered to India,” informed Dr Moily. ONGC Videsh Limited is already present in Sudan in a big way and the future may see the presence expanding its frontiers.
Azerbaijan has also invited upstream Indian companies like ONGC to participate in its oil and gas industry and enable skill development in the new country. “It is a full cycle for skill development, as ONGC learnt the oil business from the former USSR, and now imparting the skills to Azerbaijan,” said Dr Moily. Indian Oil Corporation has a term contract for Azeri crude also while BPCL and HPCL too were keen to enter term contract for sourcing crude oil from Azerbaijan.