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India & Australia in oil and gas agreement
by Ed RobertsIndia’s Directorate General of Hydrocarbons (DGH) and Western Australia’s Department of Industry & Resources (DOIR) have signed a memorandum of understanding (MoU) to enhance cooperation and understanding on oil- and gas-related issues.
The MoU was signed by Mr. Stedman Illias, Deputy DG, DOIR and Mr. V.K. Sibal, DG, DGH, a technical arm of the Indian Petroleum Ministry in the upstream sector.
The two leaders described the MoU as a significant beginning in the cooperation between India and Western Australia.
The MoU aims to exchange information and pass on good practices in the development of policy on oil and gas exploration, production and field abandonment, exchange of expertise etc.
The MoU also identifies broad areas of cooperation, including aquifer depletion specific to the oil and gas sector, enhanced oil recovery, coal bed methane gas, education and training, joint research and development and any other areas that are mutually agreed upon by both parties.
The two sides will seek to approve a programme of cooperation each year or such other jointly decided time period.
The MoU is valid for a period of 5 years and may be further extended with mutual consent.
Meanwhile, Mr. Eric Ripper, Deputy Premier of Western Australia(W.A.) met Mr. Murli Deora, Indian Minister of Petroleum and Natural Gas, In New Delhi.
They emphasized the need for taking forward the existing cooperation between India and Western Australia, in the oil & gas sector.
They felt that there is a large potential for cooperation in various activities especially in exploration & production, coal bed methane, LNG, etc.
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