Dharmendra Pradhan discusses oil, gas investment issues in Mozambique

Minister of State (Independent Charge) for Petroleum and Natural Gas Dharmendra Pradhan on Saturday discussed all issues related to existing investments and further expansion in areas of oil and gas during his visit to Mozambique.

Besides meeting his counterpart the Minister of Mineral Resources and Energy, Pedro Couto, Pradhan also met Foreign Minister Baloi and called on Prime Minister Agostino Rosario.

Three Indian PSUs- ONGC Videsh, Oil India Ltd and Bharat Petroleum have already invested in a gas block, Rovuma Area 1 in offshore Mozambique.

This is one of the largest investments of India in any single hydrocarbon asset abroad.

During the meetings, the two sides discussed all issues related to the existing investment as well as ways to expand the relationship in other areas of oil and gas. It was agreed that there is scope for expanding cooperation in several areas of mutual interest.

While laying down a road map for energy security of India on March 27 during his address at the Urja Sangam, Prime Minister Narendra Modi spoke about deepening our energy partnerships in Africa. Mozambique is an important partner in this context.