India, Norway to explore for oil in Gulf region

Petroleum Minister Mani Shankar Aiyar, who is on an official visit to Norway, is pushing for a tie-up between Indian and Norwegian firms for exploration in India and third countries, said Talmiz Ahmad, additional secretary (international cooperation), ministry of petroleum and natural gas.

Speaking from Stavanger, Ahmad, who is accompanying Aiyar, said that ONGC and Norsk Hydro were negotiating a memorandum of understanding on joint collaboration and the pact was likely to be signed this week.

"They have shown interest in participating in our E&P. We have also shown interest in exploring in their seas," he said.

A consortium of Indian Oil Corporation and Oil India Ltd is also talking to Statoil of Norway for a similar exploration tie-up particularly for Russia.

"Discussions between IOC-OIL and Statoil are at an advanced state and an MoU is to be signed in 2-3 weeks time," he said.

He, however, did not give details. Aiyar during his visit would push for a tie-up with Norway in areas of research and development, technology, safety and training.

"The minister's visit is to explore possibilities of collaboration in third countries particularly in the Caspian Sea region, Africa, Latin America and the Gulf region," he said.

Ahmad said Norwegian petroleum directorate, Norway's upstream oil regulator, has the potential of becoming a model for India's Directorate General of Hydrocarbons - which the government wants to make the regulator for upstream oil and gas exploration and production business.