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February 01, 2008 11:37 IST
India has invited Canadian firms to invest in India's petroleum sector under the seventh round of the New Exploration Licensing Policy and make use of the opportunities it has to offer.
"India offers attractive opportunities for foreign investors in petroleum sector under the seventh round of the New Exploration Licensing Policy," Minister of State for Petroleum and Natural Gas Dinsha Patel said on Thursday, while inaugurating a Road Show in Calgary .
Major stakeholders in India's upstream petroleum sector namely Canoro and Oil India Ltd made presentations during the road show about their experiences, and plans and vision their companies have regarding India's petroleum sector.
They emphasised the strong fundamentals as well as the attractiveness of the exploration and production sector in the country and concluded that the investment climate in India was indeed positive with very attractive fiscal terms under NELP.
The roadshow was attended by R L Narayan, High Commissioner of India to Canada, M S Srinivasan, Secretary, Ministry of Petroleum and Natural Gas; V K Sibal, Director General, Directorate General of Hydrocarbons and top officials of ONGC [Get Quote], Indian Oil [Get Quote] and HPCL [Get Quote].
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