Odisha News Insight

Pradhan appeals Foreign Investors to invest in Indian Oil and Gas Sector

dharmendra-pradhanPetroleum & Natural Gas Minister Dharmendra Pradhan has invited the foreign investors to participate in the Discovered Small Fields Bidding Round – 2016. Speaking at the Road Show in London on Monday, he said that the huge energy market in India provides unique opportunity to invest in Indian oil and gas sector.

The Minister said these 67 Small Fields were discovered long back but could not be monetised mainly due to restrictions in government policies. Now, progressive policies have been ushered in and private and foreign investments are being proactively facilitated.

The new policy is based on revenue sharing contract model with the aim of simplifying th operating regime and making it more transparent.

Pradhan said India has now become a bright spot of hope and opportunity in the world. While, there has been the surge of investments from around the world, there has been a sharp rise in India’s ranking on ease of doing business. India has become pool of investment opportunity in downstream and upstream sectors.

The Minister highlighted the potential offered by Britain to India, with London as a financial capital and great “centre for technology and innovation”. “The Indian market and London’s financial power and technology can be synergised. Two of the UK companies are major players in the Indian market – BP and Cairn. They are doing well in India and they are going to invest further in a big way,” Pradhan said.

In the London Road Show, Pradhan highlighted the details of policy reforms, the improvements on ease of doing business, the regulatory and tax innovations and the specific attractiveness of the present bid in Indian oil and gas sector.

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