Gail signs MoUs with 3 Chinese firms

Gail India has signed three MoUs with Chinese companies - China Petrochemical Corporation (SINOPEC), CNOOC International and the Beijing Gas Group Company (Beijing Gas Group).

According to a release issued by Gail to the BSE today, the MoUs were signed during the visit of the high level Indian delegation to China led by Mani Shankar Aiyar, minister of petroleum and natural gas. "The company's team was headed by CMD Proshanto Banerjee," the release added.

Gail and SINOPEC will co-operate in the oil & gas upstream sector including oil & gas exploration, development and production within China, India and internationally.

"The MoU with CNOOC is for co-operation in exploration and production. The company and CNOOC will study, review and jointly bid for exploration blocks in the bidding rounds of exploration blocks, and jointly secure farm-in option in already awarded exploration blocks," the release added.

The MoU with Beijing Gas Company is for co-operation in compressed natural gas (CNG), piped natural gas (PNG) and related sectors, the release said.