The Hindu : International / India & World : India, China to cooperate in oil sector

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Wednesday, Feb 02, 2005

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International - India & World

India, China to cooperate in oil sector

By Our Special Correspondent

NEW DELHI, FEB. 1. India and China may soon have closer cooperation in the oil and gas sector. A task force has been set up by the Petroleum Minister, Mani Shankar Aiyar, to identify specific areas where the two countries can collaborate in the hydrocarbons sector especially to avoid competitive bidding for projects abroad.

This was disclosed here today by Mr. Aiyar during a teleconference from Houston where he is taking part in the roadshows for the new exploration licensing programme (NELP)-IV. He will visit China "later this year" following an invitation given by a Chinese Minister during the recent Round Table of Asian oil consumers and producers held here last month.

He felt that some kind of dialogue needed to be initiated between the two countries to prevent them from competing for projects abroad. Instead, they could cooperate and enter into joint ventures. The task force to be headed by the Additional Secretary, Talmiz Ahmed, is expected to lay down the groundwork for this kind of an approach, he said.

Mr. Aiyar said the response to NELP-IV was more enthusiastic than in previous rounds owing to the recent gas finds off the eastern coast of the country.

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India, China to cooperate in oil sector