India keen to invest in Sudan's oil projects

New Delhi, Oct.30 (ANI): India and Sudan on Saturday expressed their desire to expand their cooperation in the oil and gas sector.

The two countries, following a bilateral meet held today, decided to engage their oil companies in greater discussions during the International Conference Petrotech-2010.

Indian Petroleum Minister Murli Deora and his Sudanese counterpart Dr Lual A. Deng led their respective delegations at today's talks.

Deora, while welcoming the visiting Minister, expressed the desire of Indian Oil Public Sector Units (PSUs) to further invest in the hydrocarbon sector of Sudan.

It was agreed that Sudanese side would make a detailed presentation to the Oil PSUs about forthcoming investment opportunities in the exploration blocks.

It was also informed that Oil and Natural Gas Corporation's expertise in enhancing production in the existing fields could be utilized by Sudan.

Indian side underlined that ONGC has deployed its best experts in the Greater Nile Oil Project which helped in increasing the production from about 220 thousand barrels of oil per day (BOPD) to 320 thousand BOPD besides raising the oil reserves in the fields.

It was also informed that OVL is keen to not only maintain but also increase the crude oil production level in the matured fields at optimum cost through IOR/EOR technology.

The two sides decided that first meeting of the Joint Working Group (JWG) on hydrocarbon sector will be held soon in pursuance of the MOU signed between them earlier.

Sudan offered to export more crude oil to India. It was informed that Indian companies like Indian Oil Corporation (IOC) are big importers of crude and would be interested to explore the possibilities in this regard.

It was also agreed that IOC will assist in production of Bio-fuels in Sudan.

The Indian side offered to impart training to the oil sector personnel of Sudan in its world class facilities in the entire chain of hydrocarbon value chain.

Minister of State for Petroleum and Natural Gas Jitin Prasada, Petroleum Secretary, CMD ONGC, Chairman IOC, CMD GAIL, MD OVL were also present on this occasion. (ANI)