Kuwait keen on investing in India’s petrochemical industry, crude oil storage

New Delhi, Sep 29 (Calcutta Tube) Kuwait has expressed interest in investing in India’s oil and gas sector, especially in the areas of petrochemical complexes and crude oil storage, a statement Tuesday said.

This was discussed during the meeting between Kuwait’s Petroleum Minister Sheikh Ahamad Abdullah Al-Ahmad Al-Sabah and his Indian counterpart Murli Deora here Tuesday.

‘One of the important issues discussed was possible investment of Kuwait in the oil and gas sector, particularly in petrochemical complexes and building of a crude oil storage hub in India,’ said a petroleum ministry statement.

The Indian delegation invited Kuwait to participate in the 9th round of auction of hydrocarbon blocks which will be launched soon. ‘The talks also focused on participation of the two countries in E&P opportunities in third countries,’ it said.

Besides, India offered the consultancy services of Engineering India Limited. ‘The cooperation in providing training facilities and building R&D facilities both in upstream and downstream sector were also deliberated. The two sides further discussed the offer of ONGC-TERI for bioremediation in Kuwait to clean up the soil affected by oil spills,’ the release said.

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