January 15, 2002

'20'

    The Minister of Petroleum & Natural Gas, Shri Ram Naik, called upon his Iranian counterpart, Mr. Bijan Zanganeh, Oil Minister, Islamic Republic of Iran, to positively look into the Indian request for awarding exploration & production blocks to the leading National Oil Companies of India i.e. IOC and ONGC. Speaking at a meeting between the delegations of India and Iran, led by the Two Ministers here today, Shri Naik informed that acquiring equity in oil fields abroad is one of the major objectives of India as outlined in the India Hydrocarbon Vision 2025. He said that India has already acquired 20 per cent interest in a major project of Russia named Sakhalin-1. Similarly, the nation has equity in a gas field in Vietnam. Besides, initiatives are at advanced stage to acquire blocks in several other countries including Iraq, Venezuela, Algeria, Indonesia, etc.

    Responding to the Indian request the visiting Minister Mr. Zanganeh informed that an Indian Company, Reliance Industries Limited, already has relations with Iran in the Hydrocarbon Sector. He welcomed further participation by other Indian Companies including the PSUs in the oil and gas sector of Iran, especially, in the field of Liquefied Natural Gas (LNG). Mr. Zanganeh expressed Iran’s interest in taking benefit of Indian experience for implementing CNG projects in Iran. Shri Ram Naik directed that a visit of Iranian Delegation to the CNG Stations and other facilities located in Delhi may be arranged.

    The progress of feasibility studies of proposed gas pipelines from Iran to India was also reviewed in the meeting. The Indian delegation included Shri Santosh Gangwar, Minister of State for Petroleum & Natural Gas, Shri V.N. Kaul, Secretary (P&NG) and senior officers of the Ministry, GAIL, IOC and ONGC while the Iranian delegation included representatives of National Iranian Oil Company.