India offers ADNOC investment opportunities
- United Arab Emirates: Thursday, February 28 - 2013 at 04:11
The Indian government has offered Abu Dhabi National Oil Co (Adnoc) a host of investment opportunities in the refining and petrochemicals sector, in partnership with Indian Oil Corp and Oil (IOC) and Natural Gas Corp (ONGC), Hindustan Times has reported. ONGC is also likely to explore joint bidding opportunities with Adnoc for E&P activities in India and third-world countries, a government official told the daily. "Indian firms are also interested in pursuing exploration and production opportunities available in the UAE either through participation in future licensing rounds or through government-to-government channels, subject to techno-commercial considerations," the official said. "IOC is interested to participate jointly with UAE-based national oil companies or other petrochemical majors in gas-based petrochemical projects such as gas crackers and downstream polymer and other petrochemical units," he added.
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