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Our Bureau

New Delhi, Nov 13 A bilateral meeting between India and Pakistan is necessary to decide on the transportation tariff, transit fee and a common stand on the price clause proposed by Iran, before the trans-national pipeline project that also involves Iran can take shape, the Minister for Petroleum and Natural Gas, Mr Murli Deora, said on Tuesday.

“We are finalising the dates for a meeting between India and Pakistan,” the Minister said, while addressing the Economic Editors’ Conference. Senior Ministry officials indicated that there was a possibility of Indian and Pakistani officials meeting on the sidelines of the Steering Committee Meeting of Turkmenistan, Afghanistan, Pakistan and India pipeline project.

The two-day meeting of the steering committee is to begin in Islamabad on November 29 and the Indian delegation is likely to be led by the Minister for Petroleum and Natural Gas.

Addressing the conference, the Minister announced that the Government proposed to launch the seventh round of the New Exploration Licensing Policy (NELP) by the end of the year or early next year. “We expect that 60 blocks may be offered for exploration and production, comprising 30 offshore blocks, 15 shallow water blocks and deepwater blocks in both the east and west coast offshore area,” the Minister said.

Turning his attention to petroleum exports, Mr Deora said that during first six months of the current fiscal petroleum product exports stood at 19.9 million tonnes valued at over $12 billion, an increase of about 28 per cent over the corresponding period during the previous year. “Last year, the oil sector was the largest export earner for the country and going by current indications that trend should continue,” a senior Government official said.

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