Petroleum and Natural Gas Minister Dharmendra Pradhan invited the US companies and lenders to invest in India to seize the huge opportunity in India’s growth story. He said, India will see an investment of over 118 US billion dollars in oil and gas exploration in the next five years.

Mr. Pradhan along with US Secretary of Energy Dan Brouillette co-chaired industry level interaction yesterday organized by the US-India Business Council. The Minister also separately chaired an industry level interaction organized by US-India Strategic Energy partnership.

The Minister said, even during these challenging times, India and the US have been working in close collaboration in dealing with Covid-19 and stabilizing global energy markets. He said, there have been a few collaborative efforts between Indian and American companies in the energy sector, but it is far below their potential.

Talking about the Strategic Energy Partnership, Mr. Pradhan said, cooperation in the natural gas sector has been identified as a priority area and far-reaching changes and policy reforms are underway in the exploration and production sector in India.