Worked hard to earn 10 % stake in UAE oilfield: Pradhan

Last Updated: Sun, May 13, 2018 16:16 hrs
India's Oil Minister Dharmendra Pradhan speaks at a road show organised by the Directorate General of Hydrocarbon in Mumbai

Abu Dhabi: Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Saturday took a jibe at Congress, stating that as opposed to previous regimes, Prime Minister Narendra Modi-led government has worked hard to earn 10 per cent partnership in an offshore oilfield in Abu Dhabi.

While addressing a gathering at the Indian Embassy in Abu Dhabi, United Arab Emirates (UAE), on Saturday, Pradhan said, "The government has not been formed for the first time in Delhi, neither is it the first time that someone has become a Prime Minister in India."

"There was an oil minister earlier too. But, our team has done such a good work that the UAE has given us 10% partnership (in Abu Dhabi National Oil Co's Lower Zakum Concession)," he added.

The Union minister, who is on a three-day visit to the UAE, also said under the Prime Minister Narendra Modi's leadership, their endeavour has been to provide affordable, sustainable and clean cooking fuel, energy and electricity to all and that has also made India an attractive investment spot, especially in the energy sector.

He further highlighted the attractive investment opportunities in the Petroleum and Natural Gas and Skill Development sectors in India and also extended an invitation to the business community in the UAE for greater collaborations and increased investments in India.

During the day, Pradhan also held a bilateral meeting with H.E. Dr. Jaber. Minister Pradhan was accompanied by Ambassador Navdeep Suri, senior officials and CEOs for Indian Oil, Bharat Petroleum and Hindustan Petroleum.

Pradhan is visiting UAE to follow up on the February 2018 UAE visit of Prime Minister Narendra Modi.

During the visit of the Prime Minister, Indian Strategic Petroleum Reserves Ltd (ISPRL) signed an agreement with the ADNOC of UAE under which the latter will store about 5.86 million barrels of crude oil in India's Strategic Petroleum Reserve (SPR) facility at Mangalore at its own cost.



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