Thursday, July 16, 2015

ONGC and BP top brass discuss about energy opportunity

GLOBAL company BP Plc’s Group Chief Executive Bob Dudley recently paid a short visit to India and during his trip to New Delhi the global honcho discussed about energy scenario in India with the top officials in Modi government.
On July 15, Dudley, with his team, met Minister for State (Independent Charge) Petroleum and Natural Gas Dharmendra Pradhan. Also present in the meeting were top...
honchos of ONGC. Incidentally, ONGC is not a regular partner of BP in India.
Dudley said after the meeting: “We discussed opportunities and challenges in the Indian energy sector at large and also specific to our deep water exploration and development projects.”
“I see potential for significant additional investments and creation of jobs in the sector. For complex and capital intensive deep water projects, appropriate pricing is critical for viability.”
A possible technical partnership between BP and ONGC for the latter’s East Coast exploration asset has been doing the round for the last couple of months. But neither ONGC nor BP has confirmed it.
BP has a partnership with Mukesh Ambani-led Reliance Industries, including in the country’s largest gas fields on the East Coast. RIL and BP have been seeking higher price for domestic gas.
Later, at an industry event, Pradhan said “I met the BP chief today (Wednesday) and he assured me that the oil major’s participation will increase in different ways in the Indian market and economy.”
He added that BP assured him of greater engagement in the Indian market. The meeting was also attended by ONGC’s Chairman and Managing Director DK Sarraf; ONGC Videsh Ltd’s Managing Director NK Verma; Region President and Head of Country of India BP Group Sashi Mukundan and senior officials from the Ministry for Petroleum and Natural Gas.  

No comments:

Post a Comment