India is reportedly seeking close cooperation with countries in Africa, home to some of the large hydrocarbon resources, to meet its energy and downstream industries’ requirements.
To explore opportunities in the sector, Dharmendra Pradhan, Minister of State, Petroleum and Natural Gas, along with senior officials of MoPNG and senior executives of public sector oil & gas companies, met government representatives of African countries such as Nigeria, Ghana, Angola, Tanzania, Mozambique, South Sudan, Algeria and Gabon during the 3rd India Africa Forum Summit.
According to MoPNG officials, India is keen to intensify its hydrocarbon cooperation with the African countries in upstream, midstream and downstream areas. Pradhan stressed upon the potential to graduate to an energy partnership between India and the African nations.
In an another event, Pradhan had accompanied Prime Minister Narendra Modi in his bilateral meetings with African countries such as Nigeria, Sudan, South Sudan, Gabon, Mozambique, Tanzania and Angola.
It may be noted that India imports about 33 million metric tonne (MMT) crude oil from Africa, which constitutes 18 percent of the country’s total crude import.
Indian public sector oil and gas companies have invested about $ 8 billion in oil & gas assets in Mozambique, Sudan and South Sudan. Engineers India Ltd (EIL) has been associated with refining sector in several countries as well.
To further give a push to cooperation in oil and gas sector, the government has decided to organise the 4th India-Africa hydrocarbon conference on January 21-22, 2016 in New Delhi.