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Shri Mani Shankar Aiyar, Minister of Petroleum and Natural Gas addressed a large gathering of oil and energy executives from Norway and other European countries at the ‘INTSOK – Oil and Gas Business Day 2005’ conference at Oslo, Norway. Shri Aiyar presented India’s “geo-political perspective” in respect of international oil and gas situation. Noting that India was importing hydrocarbons to the extent of 76%, the Minister pointed out that energy security was the central concern for his Government since it was the crucial input to secure economic growth rates of 7 to 8% to which the Government was committed in its quest to eradicate poverty.
The Minister briefed the audience about the measures taken in recent times to increase domestic hydrocarbon production and urged Norwegian companies to expand their operations in India. The Minister said that India viewed Norway with “trust and confidence” and needed to benefit from technologies developed by Norway, particularly in the deep sea area. The Minister also urged Norwegian companies to partner Indian firms in third countries.
He firmly rejected the suggestion in sections of Western media that a new “great game” was unfolding in Asia in light of the “competition” between India and China for global energy resources. Shri Aiyar said he was convinced that India and China would increasingly cooperate in the hydrocarbons sector rather than compete, not only in each other’s countries but in third countries as well.
The Petroleum Minister reached Oslo after a 2-day visit to Stavanger where he visited an offshore oil and gas platform and had detailed discussions with Norwegian Petroleum Directorate and representatives of the Norwegian national oil company, Statoil. In Oslo, Shri Aiyar had a substantial dialogue with the Norwegian Minister of Foreign Affairs Mr. Jan Petersen. The two Ministers agreed on the importance of bilateral cooperation between India and Norway across the hydrocarbons value chain as also in third countries. The two Ministers noted that Indian and Norwegian companies could cooperate with Russian entities in oil and gas exploration in the Barent’s Sea.
Following his address at the ‘INTSOK- Oil and Gas Business Day 2005’, Shri Aiyar had a luncheon meeting with Norwegian executives from the petroleum sector. He briefed them about India’s hydrocarbon scenario and the initiatives taken by his Ministry to increase domestic production and expand international engagements to promote India’s energy security interests. He particularly urged Norwegian companies in the petroleum services sector to expand their operations to India to take advantage of the new opportunities that had become available in the area of exploration and production, particularly offshore and in the deep sea.
The Petroleum Minister had delegation-level discussions with the Norwegian Minister of Petroleum & Energy, Ms Thorhild Widvey. At this discussion, Shri Aiyar emphasised the importance to India of new technologies developed in Norway in deep sea exploration as also exploration in complex geological areas. He sought Norwegian support in the area of increased oil recovery and enhanced oil recovery (IOR/EOR).
Noting that Norway, as the world’s third largest oil exporter and the fourth largest oil producer was a significant role player in the international arena, Shri Aiyar sought Norwegian support in the promotion of the regional and global dialogue in respect of energy security matters, specifically in regard to reform of international and regional oil markets and price mechanisms. The Norwegian Minister conveyed the deep interest of Norwegian companies in supporting India’s energy security interests. She agreed to consider the Indian Minister’s suggestion pertaining to the global hydrocarbon dialogue and to make the Riyadh-based International Energy Forum an effective platform in this regard.
The two Ministers also agreed to coordinate the efforts of their respective countries in the exploration, with Russia, off the Barent’s Sea as also in respect of other opportunities in different parts of world. In this context, the Norwegian Minister emphasised that Norwegian companies were anxious to expand their international operations. The Norwegian Minister further said that a Norwegian delegation representing the Hydrocarbons sector would visit India in the near future to explore new opportunities for bilateral and third country cooperation.
RCJ/GS/Press Release/Oslo (01.09.2005)
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