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India's JV with UAE & Kuwait for Overseas O&G Asset Acquisition, may be a Win-Win Proposition for All

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India is in talks with the oil rich United Arab Emirates and Kuwait to explore the possibility of setting up separate joint ventures that will acquire oil and gas assets in other countries, chairman of state-run Oil and Natural Gas Corporation said. 

Source:  ET

SNP Insights

Both UAE & Kuwait, are heavily oil rich country, while India is importing around 80% of its oil need. So strategic partnership between  both will be substantially complimentary to each other. As India is striving hard to secure oil supply & both middle east countries are highly cash rich; forming JV for, securing O&G assets at other countries, may reduce risk exposure of both. Deal if signed, will bring in more investment from both the peers & will be a major milestone towards energy security of country like India.

Source: SNP Infra Research