{"id":11987,"date":"2024-09-26T04:52:14","date_gmt":"2024-09-26T04:52:14","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11987"},"modified":"2024-09-26T04:52:14","modified_gmt":"2024-09-26T04:52:14","slug":"bp-scouting-for-new-oil-and-gas-opportunities-in-india","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11987\/","title":{"rendered":"BP scouting for new oil and gas opportunities in India"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0British energy giant BP is holding a board meeting in India as it seeks to explore new opportunities in the country\u2019s oil and gas sector, reported Reuters<\/em><\/a>.<\/p>\n

India, ranking as the world\u2019s third-largest oil importer and consumer, is looking to significantly increase its oil and gas production, which has been stagnant for some years.<\/p>\n

In June, the Indian Government announced that the Oil and Natural Gas Corporation (ONGC) was seeking a technical partnership with a global oil major to enhance production from its Mumbai High fields in the western offshore region.<\/p>\n

In a statement, bp CEO Murray Auchincloss said: \u201cWe see growing business opportunities, including through our world-class partnership with Reliance, producing the country\u2019s gas and growing our joint retail presence.\u201d<\/p>\n

The bp board, which is on a five-day visit, met with India\u2019s Oil Minister, Hardeep Singh Puri, this week.<\/p>\n

In a post on X, Puri said: \u201cRobust partnership between the global energy major and India, which spans across the entire energy value chain including exploration and production, biofuels, fuel retail and other emerging areas will continue to grow further.\u201d<\/p>\n

BP, in collaboration with Reliance Industries, operates 1,900 fuel retail stations across India and is also engaged in producing oil and gas from a deep-water block in the Krishna-Godavari basin, located off the east coast of the country.<\/p>\n

As per the Directorate General of Hydrocarbons\u2019 website, the partnership between Reliance and bp has also joined forces with ONGC to bid for exploration rights for an offshore block in India.<\/p>\n

BP chairman Helge Lund said: \u201cBy leveraging our combined experience and expertise with our partners, we aim to facilitate the secure, affordable and lower-carbon growth of India\u2019s energy resources to meet the increasing demand.\u201d<\/p>\n

Last month, BP and the Abu Dhabi National OilCompany (ADNOC) initiated discussions<\/a> with officials from Cyprus\u2019 Energy Ministry to consider investment opportunities in Cyprus\u2019 emerging natural gas sector.<\/p>\n

Earlier in the year, bp and ADNOC disclosed their intentions to establish a joint venture to develop new gas resources in the East Mediterranean.<\/p>\n

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