Chad, Nigeria keen on Indian role in oil sector
Indo-Asian News Service
New Delhi, March 3, 2005
Nigeria, the sixth largest oil exporter, and Chad are keen about Indian participation in their oil and infrastructure sectors.
High-level official delegations of both the African countries are in New Delhi to hold talks on a range of bilateral issues and seek Indian investment and expertise in several areas including energy, manufacturing and infrastructure.
Chad Deputy Prime Minister and Minister of Foreign Affairs Nagoum Yamassoum, who heads the delegation, has invited Indian exploration major Oil and Natural Gas Corp (ONGC) to take part in the oil sector, Nassir Arzamkhan, the consul of India to Chad, told the agency.
He was speaking on the sidelines of the three-day conclave on India-Africa Project Partnership 2005.
According to the official, Chad has invited the ONGC to look at Canada's EnCana Corp stake in Block H, which comprises 108.5 million gross acres.
The Canadian company, which operates the highly prospective Block H, will offload 50 per cent stake soon.
The Canadian company is embarking on the exploration phase after discovery of oil in the block.
Chad has recently awarded an exploration block to South Africa to be jointly developed with Chinese participation.
"In addition, there are three or four exploration blocks which are available. We will discuss the potential during our meeting with (Petroleum Minister Mani Shankar) Aiyar," he said.
Chad is currently exports its entire oil production of 225,000 barrels a day and is looking to start production from a second reserve that holds light crude oil, which is earmarked for domestic consumption.
Nigeria is also seeking Indian expertise in the energy, power and manufacturing sectors.
"We are keen to join hands with India, learn from India and borrow technology from India," said Alhaji Ahmed Abdulkadir, special advisor to the Nigerian president on manufacturing and private sector.
Abdulkadir is accompanies by a 20 member high-level delegation, including four ministers.
"In the oil sector, if India wants we will offer equity partnership in joint venture in oil fields including marginal fields. We are in the process of discussing with oil companies about possible Indian participation."
Still in the process of exploring large areas that could yield more oil and gas, Nigeria hopes to be in a position to offer more blocks for exploration soon once further surveys have been completed in the Gongola and Chad basins.
India is emerging as a major trading partner of most African nations including Nigeria and Chad. In the case of Nigeria, of the $23 billion investment between 1999-2003 mostly in oil and IT sectors, India's share was 10 per cent.
Nigeria is also keen to seek Indian participation in setting up mini refineries of 100,000 barrels per day capacity.
"If Indian companies are ready today, we are ready to make them good offers," said Abdulkadir.
Focusing on development, Nigeria and Chad are keen to seek Indian investmentand technological collaboration in a range of areas especially manufacturing, IT, power and infrastructure.
"Landlocked Chad is also looking at the possibility of India helping to do feasibility study on a rail link from Cameroon to Chad. The railway link in Cameroon currently stops midway in Cameroon," said Arzamkhan.
© HT Media Ltd. 2004.