Brazil, India seek cooperation in energy, petchem sectors

Thursday, April 20, 2017

Government officials from Brazil and India have resumed talks aimed at seeking cooperation in the hydrocarbon and petrochemical sectors.

India's chemicals and fertilizers minister Mansukh Mandaviya met with Brazilian mining and energy minister Fernando Coelho Filho in Brasília on Wednesday to discuss bilateral opportunities, according to a statement on Brazil's mining and energy ministry website.

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High on the agenda was the potential for new investments in oil and gas exploration following the publication of a three-year licensing round schedule by the ministry last week.

"[Coelho Filho] emphasized that the schedule provides excellent investment opportunities for Indian companies," the ministry said in a statement.

India's government-controlled Oil and Natural Gas Corporation (ONGC) currently holds stakes in Brazil's Parque das Conchas (BC-10) and Moita Bonita (BM-SEAL-4) offshore blocks.

The ministry said India's oil and gas minister Shri Dharmendra Pradhan would visit Brazil next month, continuing talks that began in December.