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Murli Deora

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We hope that all 55 blocks will be snapped up. We expect over $7 billion dollars investment within 24 months.

We have invited a number of global energy players to explore oil in our country and share production with us.

It was a fruitful meeting.

There are many things the United States has opposed in the past and supported later.

The pipeline issue did not even crop up in our meeting.

It is premature for me at this moment to comment on details. I will be getting into the details of the functioning of the ministry over the next several days and weeks.

I will continue to steer the ministry to achieve this strategy of ensuring fuel supplies and the energy security of our nation.

There are a lot of hurdles but we hope to make things work. We need the gas from Iran to meet energy needs of India and we are committed to make the project happen.

We are making all efforts, including using our personal contacts, to get U.S. multinationals to bid for our exploration blocks ... so far they have stayed away, but I am sure this time things will be different.

The finance minister is very sympathetic to the problem. We expect some announcement by the end of the month.

Sustained high international oil prices have compelled several import dependent countries such as ours to look for other indigenous means to enhance their hydrocarbon security. Our strategies include besides enhancing our domestic efforts for exploration of conventional oil and gas and improving recovery from existing producing fields, the rapid development of non-conventional sources of hydrocarbons such as CBM.

(The) board would protect consumers' interests and would seek to boost investments and create competitive markets.

It's been a massive response.

We hope it will materialize in bidding for oil and gas.

I would be keen to meet with CEOs and other top executives of U.S.-based petroleum companies during this visit. I have separately requested the USIBC (U.S.-India Business Council) to organize an event, wherein this interaction could take place.

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