Baroness Sandip Verma called on the Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan, to discuss bilateral cooperation in oil and gas sector between India and United Kingdom today. She mentioned that some UK companies have already invested in India and UK Government was exploring how the Indian market could grow and be more competitive, thus encouraging other UK companies to invest in India. India's E&P sector and prospects for securing energy through investments abroad were explained. It was explained that Indian PSU's look for Joint Ventures with other companies including companies from UK. India welcome potential partners to share knowledge and information in E&P sector including exploration and exploitation of Shale Gas/ Oil, Gas Hydrates and Sand Oil. The Baroness agreed that UK and Indian counterparts may share best practices to reduce scale of process, thus increasing efficacy. The meeting ended with a decision that both Indian and UK companies would interact to further bilateral cooperation in hydrocarbon sector.
MJPS/Rk
MJPS/Rk
