India, Norway to forge alliances

New Delhi, August 25:

Indian petroleum minister Mani Shankar Aiyar’s visit to Norway next week will see the forging of long-term alliances between state-owned Indian and Norwegian companies for technical cooperation and exploration ventures in third countries. On the cards is an alliance between ONGC Videsh Ltd and Norsk Hydro and the start of a dialogue between Oil India Ltd and the Indian Oil Corporation with Statoil for possible ventures in third countries. “The proposed long-term partnerships for bilateral purposes as well as in third countries are the ou-tcome of the two rounds of meetings of the joint working group, with the last being held in Norway,” the sources said. The visit will also witness a series of technical and research agreements between ONGC and some Norwegian companies.

Another key collaboration accord will be signed between India’s exploration regulator Directorate General of Hydrocarbons (DGH) with its Norwegian counterpart. “The DGH was originally set up on the pattern of the Norwegian Petroleum Department. Unfortunately our body has not evolved in the same manner. We see in NDP a possible model for reform of DGH.”