India seeks oil exploration in Bahrain

India seeks oil exploration in Bahrain
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First Published: Tue, Mar 20 2007. 07 28 PM IST
Updated: Tue, Mar 20 2007. 07 28 PM IST
PTI
New Delhi: India wants to participate in oil and gas exploration blocs being offered by Bahrain.
“Bahrain is offering new oil and gas exploration blocs . Our industry will be happy to participate in the exploration ventures as well as in the upgradation and enhancement of projects in downstream industries,” minister of state for External Affairs E Ahamed said on 20 March at a meeting of business chambers with Prince of Bahrain Shaikh Salman Bin Hamed Al Khalifa.
Ahamed said India is one of the largest consumers of oil and gas and its requirements are growing because of the expanding economy.
“Bahrain provides excellent opportunities to Indian businessmen in area of oil and gas production and downstream petrochemicals,” he said.
The minister invited Bahrain and other countries of the Gulf region to tap tremendous potential for cooperation in areas like trade, energy, technology and manpower.
“The need of the hour in the rapidly globalising world is to leverage each other’s strength in order to maximise the shared benefits for our economies,” he said
India is seeking to share its expertise in areas like Information Technology, education, pharmaceuticals, telecom and construction with Bahrain, Ahamed said.
Areas like banking and tourism also provide avenues for cooperation between the two countries, he added.
“Bahrain has provided expeditious approval to Indian Banks to start operation in the country, which will help strengthen its status as an important and attractive financial hub in the region,” Ahamed added.
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First Published: Tue, Mar 20 2007. 07 28 PM IST
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