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Home -> Finance -> Full Story

India for partnership with Malaysian oil firm
Wednesday, December 22 2004 12:46 Hrs (IST) - World Time -

New Delhi: India today (Dec 22, 2004) sought to forge closer partnership with Malaysia, inviting its national oil firm Petronas to join Indian Oil Corp in developing one of the phases of gigantic South Pars gas field in Iran and an LNG import terminal at Ennore in Tamil Nadu.

It also sought partnership with Malaysia in bidding for the Sakhlain-3 oil and gas fields in Russia while seeking to get on board in an oil block in Sudan.

"I have suggested that Indian and Malaysian companies can go together in the field of hydrocarbons in third countries," Petroleum Minister Mani Shankar Aiyar told reporters after a meeting with visiting Malaysian Prime Minister Abdullah Ahmad Badawi in New Delhi.

He sought joint operatorship of oil blocks 5A and 5B in Sudan where ONGC Videsh Ltd and Petronas are partners and wanted the Indian company to be accommodated on Malaysian- company controlled Block 8 in the same country.

"There are indications that Block 12 in Sudan may be given to us. If a package of understanding is developed, we would like Petronas to join us in Block 12," Aiyar said.

In Iran, Aiyar offered the Malaysian company to partner IOC for developing one of the phases of the gigantic South Pars gas field and producing LNG for export from it. IOC has already signed an MoU with Petropars of Iran for the project.

He wanted Petronas to partner IOC in building an LNG import facility at Ennore. "Petronas and IOC were jointly exploring putting up a LNG terminal at Kakinada in Andhra Pradesh. But discovery of huge gas reserves off the Andhra coast had made the terminal unviable. Now we want Petronas to come on board in Ennore project."

PTI