Shashi Shankar
,Chairman,ONGC
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India’s connection to the Arabian Gulf dates back to long before the time the rupee was the common currency of the peninsula. These days it’s the future that matters and India’s growing economic hardiness will exert an increasing influence on the region’s oil and gas players. Recently, history was made when a consortium led by ONGC Videsh, ONGC’s overseas arm, paid $600mn for a 10% stake in ADNOC’s Lower Zakum offshore field. More transactions will follow as Aramco eyes downstream deals in the sub-continent.
