Gulf Oil and Gas accountACCOUNT

Saudi Aramco and Indian Oil Corporation Sign Accord

Source: www.gulfoilandgas.com 4/1/2005, Location: Middle East

DHAHRAN- Saudi Aramco and Indian Oil Corporation Ltd. (IOC) has signed a Memorandum of Collaboration to evaluate future cooperation in petroleum research and development and the commercial exploitation of any resulting technologies.

Abd Allah S. Al-Saif, Saudi Aramco's senior vice president of Exploration and Producing, said the accord, signed Wednesday in the presence of both countries' petroleum ministers, was "a milestone in the steadily developing energy relationship between Saudi Arabia and India."

Al-Saif added: "India is a very important country for us, and we usually complement such close relationships by going beyond the supply of crude oil and entering into downstream partnerships. We look forward to achieving such a goal with India."

The accord calls for cooperation in such areas as production of cleaner fuels, refinery process improvements, corrosion control and biomediation.

The joint memorandum capped a visit to Saudi Aramco by Mani Shankar Aiyar, India's Minister of Petroleum and Natural Gas, and an accompanying delegation of key officials and Indian energy industry representatives.

Minister Aiyar and his Saudi counterpart, Ali I. Al-Naimi, Minister of Petroleum and Mineral Resources, attended the signing ceremony in Dhahran. Abdulrahman F. Al-Wuhaib, vice president of Engineering Services, signed the memorandum on behalf of Saudi Aramco. N.K. Nayyar, director of Planning & Business Development, signed for IOC.

The Indian Petroleum Minister arrived in Dhahran Wednesday morning after spending the night at Saudi Aramco's remote desert oil-production facilities at Shaybah, in the Rub' al-Khali (Empty Quarter). Following the signing ceremony, Aiyar toured Saudi Aramco's Exploration & Petroleum Engineering Center (EXPEC) in Dhahran.

Commenting on his visit, the Indian Minister said: "I consider this visit to Saudi Arabia and to Saudi Aramco to be historic and extremely significant, and at the same time very enjoyable. We have seen many things and learned a great deal. We were impressed to see that the world's most important energy resource and the world's largest oil company are managed and run by Saudis."

He cited Saudi Aramco's role as a reliable suppler of crude oil to India, and added: "I would like to see Saudi Aramco as a partner in India's refining and marketing sector."


Oil & Gas Companies News in Saudi Arabia >>

Qatar >>  8/15/2019 - Seadrill Limited (Seadrill) refers to the announcements made on May 1, 2019 in connection with the award of drilling contracts by Qatar Petroleum to ...
Oman >>  7/31/2019 - BP and Eni have signed an exploration and production sharing agreement (EPSA) for Block 77 in central Oman with the Ministry of Oil and Gas of the Sul...

United Arab Emirates >>  7/31/2019 - OMV, the international integrated oil and gas company based in Vienna, and ADNOC, the Abu Dhabi National Oil Company, closed the strategic equity part...
United Arab Emirates >>  7/29/2019 - National Petroleum Construction Company (NPCC), in conjunction with its joint venture (JV) partner Petrofac, has secured a new contract with Al Yasat ...

Iraq >>  7/28/2019 - Dana Gas PJSC, the Middle East's largest private sector natural gas company, announces that its share of the proved plus probable (2P) hydrocarbon res...
Qatar >>  7/26/2019 - Jack-up drilling rigs "HAKURYU-10" and "HAKURYU-12", both operated by JDC's subsidiary company "Japan Drilling (Netherlands) B.V." at Al-Shaheen Oil F...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.