Prad­han en­er­gises oil & gas ties dur­ing Kaza­khstan trip

Resource Digest - - CONTENT -

In­dia and Kaza­khstan have dis­cussed deep­en­ing co­op­er­a­tion in the oil and gas sec­tor as well as ex­pand­ing the In­ter­na­tional North-south Trans­port Cor­ri­dor by link­ing it to the Kaza­khstan-Turk­menistan-iran rail link.

Oil Min­is­ter Dhar­men­dra Prad­han led a del­e­ga­tion to As­tana for the meet­ing of the In­dia-kaza­khstan In­ter-gov­ern­men­tal Com­mis­sion (IGC), which is co-chaired by Kazakh En­ergy Min­is­ter Kanat­bozum­bayev.

Dur­ing the meet­ing, the two sides dis­cussed "ideas for step­ping up the co­op­er­a­tion in the en­ergy sec­tor, trade, eco­nom­ics, in­vest­ment, trans­port and con­nec­tiv­ity, agri­cul­ture, in­for­ma­tion tech­nol­ogy, space, health­care and cul­tural spheres be­tween the two coun­tries", an of­fi­cial state­ment said.

The two sides dis­cussed "the pos­si­bil­i­ties of ex­pand­ing co­op­er­a­tion in ex­plo­ration and pro­duc­tion of hy­dro­car­bons and in­vest­ments in in­fra­struc­ture projects in the oil and gas sec­tor".

ONGC Videsh Ltd owns a 25 per cent stake in the Sat­payev oil­field in the Caspian Sea.

In the nu­clear en­ergy sec­tor, the two sides agreed to work on ap­pli­ca­tion of nu­clear sci­ence in the ar­eas of health and agri­cul­ture.

"They ex­plored the pos­si­bil­ity of ex­pand­ing the In­ter­na­tional North-south Trans­port Cor­ri­dor (INSTC) by link­ing it to the Kaza­khstan-turk­menistan-iran rail link," it said.

INSTC is a 7,200-km multi-mode network of ship, rail and road route for mov­ing freight be­tween In­dia, Rus­sia, Iran, Europe and Cen­tral Asia. The route pri­mar­ily in­volves mov­ing freight from In­dia, Iran, Azer­bai­jan and Rus­sia via ship, rail and road.

In­dia and Kaza­khstan also agreed to de­velop and deepen bi­lat­eral re­la­tions in the fields of agri­cul­ture, min­ing and civil avi­a­tion. Kaza­khstan is strate­gi­cally lo­cated be­tween Europe and Asia and of­fers enor­mous busi­ness and in­vest­ment op­por­tu­ni­ties. The coun­try is rich in min­eral re­sources such as ura­nium, oil and nat­u­ral gas.

"Both lead­ers agreed to col­lab­o­rate in the oil and gas sec­tor for mu­tual ben­e­fit and fur­ther strengthen the en­gage­ment by ad­dress­ing is­sues of con­cern to In­dian in­vestors, par­tic­u­larly in the Kazakh hy­dro­car­bon sec­tor," the state­ment said.

Bozum­bayev in­vited In­dian in­vest­ments in var­i­ous sec­tors, par­tic­u­larly in the hy­dro­car­bon sec­tor, in­fra­struc­ture, peace­ful use of nu­clear en­ergy, co-pro­duc­tion of films, co­op­er­a­tion in food pro­cess­ing and in­for­ma­tion tech­nol­ogy.

The two sides ex­changed lists con­tain­ing pri­or­ity ex­port items, the state­ment said with­out elab­o­rat­ing.

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