The Indian government has signed a three-point bilateral agreement with the US government aiming to harness new technologies in the hydrocarbon sector. The agreement was signed between Oil Minister Dharmendra Pradhan and US Secretary of Energy Dr Ernest Moniz in Washington.
The two countries agreed to enhance institutional and technical cooperation in specific areas such as assessment and unconventional hydro-¡carbon reserves in India both onshore and offshore; new technologies in development of second generation bio-fuel and development of petroleum storage. As part of the bilateral arrangements, Indian companies have also invested in shale oil and gas projects in the US.
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