Gammell in Delhi for talks with Aiyar

Vol 9, PW 15 (03 Nov 05) News in Brief
     

Cairn Energy chief Bill Gammell was in India on 2nd November for meetings with oil minister Mani Shankar Aiyar, oil secretary Sushil Tripathi and DGH chief VK Sibal.

Talking to PETROWATCH during a chance meeting in the ministry, Gammell said his visit was a courtesy call but officials tell us the Cairn chief spoke enthusiastically about his grand investment plans for India. We are very optimistic about India, Gammell said.

However, he added that Cairn is still undecided about participation in ONGCs proposed 7.5m-t/y refinery in Rajasthan, despite ONGCs claim that the refinery will be a 50-50 joint venture. We are still considering the ONGC proposal, added Gammell.

Mangalore Refineries, an ONGC subsidiary, has been appointed sole offtaker of crude from Cairns Rajasthan discovery, where ONGC has a stake 30% stake. Last month, Cairn submitted a field development plans for RJ-ON-90/1 to the DGH.