India keen on expanding oil, gas explorations in Vietnam.

India keen on expanding oil, gas explorations in Vietnam..Commerce and Industry Minister Anand Sharma, who is on a two-day visit to the South-East Asian nation, pushed for increased collaboration with Vietnam in energy, mining and infrastructure sectors. The minister said that both onshore and offshore drilling in Vietnam can become a win-win situation for both the economies.

State-owned Oil and Natural Gas Corp's overseas arm ONGC Videsh accounts for much of India's investment in Vietnam. It has 45 per cent stake in one gas field Block 06.1 in the Nam Con Son basin off Vietnam's south coast. It won a contact in 2006 to jointly explore with

PetroVietnam in Blocks 127 and 128 in the Phu Khanh basin further north.

At present, the bilateral trade between the nations stood at USD 3.7 billion.

Indian exports to Vietnam includes pharmaceuticals, cotton and electrical machinery, while imports iron and steel and mineral fuels.

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