ABU DHABI 11 February 2018: His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Narendra Modi, Prime Minister of India, discussed on Saturday boosting strategic cooperation between the two nations as well as a number of regional and international issues of mutual interest.
Prime Minister Narendra Modi’s visit comes as part of the two leaderships’ efforts to boost mutual cooperation in all areas. It also comes to follow up on the strategic direction that the two countries’ relationship is taking, said Wam.
Sheikh Mohamed expressed, during talks held between the two leaders today in Abu Dhabi, his joy with the visit of the Indian Prime Minister and his accompanying delegation, which is part of a long history of friendly relations between the UAE and India. His Highness expressed confidence that the visit of Prime Minister Narendra Modi to the UAE gives the relationship enjoyed by the two countries a major push and helps to revitalize it.
During their meeting, the two leaders discussed areas of cooperation between the two nations and ways to boost and develop them in order to meet the aspirations of their two respective peoples. The two leaders also exchanged views on regional and international issues.
Video uploaded by F.Unlimited INDIA on YouTube
Sheikh Mohamed made it clear that relations between the two countries have witnessed a breakthrough in all areas in recent years, thanks to the political will of the leaderships of the two nations.
His Highness said that the Strategic Partnership Agreement, signed between the UAE and India in 2017, constituted a major turning point in the history of the relationship that binds the two countries. He added that the agreement has also laid a strong foundation upon which the future of the two country’s relationship is based. He said this was made possible thanks to the mutual keenness of the leaderships of the two countries to transform the clauses of the agreement into programs and projects in different fields for the benefit of the Emirati and Indian peoples.
Sheikh Mohamed said the Emirati and Indian peoples are bound by deep-rooted cultural and commercial ties, adding that the people of the UAE have strong feelings of friendship and affection toward the Indian people. His Highness highlighted the contributions of the Indian community to the development and growth that the UAE enjoys today, stressing that the Indian community enjoys the respect of the both the people and leadership of the UAE and that it constitutes a cultural bridge that helps enhance the relationship between the two countries.
His Highness said that the shared cultural values between the UAE and India, including coexistence, moderation and tolerance, underpin the importance of the relationship between the two nations. He said that shared cultural and civic values are the foundations upon which peace, stability and development are built and achieved, pointing out that for this reason the UAE treats these values as a vital part of its policy and is always keen on building new bridges for cross-cultural collaboration and cooperation.
He said that the UAE and India are two major forces of stability and development in the region and the world and that both countries play an important role in bringing about peace and in confronting extremism, terrorism and violence. He pointed out that that approach was inspired by the universal heritage of two eternal leaders: Zayed and Gandhi. These two leaders, he said, have inspired humanity by taking on the path of tolerance, coexistence and peace. The world is in dire need, today more than ever, to revive the values embraced and lived by those two leaders, especially in light of the ongoing conflicts, wars and the spread of extremism, fanaticism and hate dogmas.
Important Power
His Highness stressed that India is important power that influences regional and global developments and which plays and active and effective role in maintaining regional and global peace as well as achieving stability in Asia and the Middle East. He said this is true thanks to India’s foreign policy, which is characterized by balance. His Highness said that the UAE views India’s role in the region and around the globe with a lot of appreciation.
Sheikh Mohamed commended the political and economic role that India plays, adding that India represents a balanced position in the international arena and plays an important role in global stability.
His Highness also commended India’s economic power, which he said depends on solid basis and therefore makes the country one of the most important investment destinations in the globe.
For his part, Prime Minister Narendra Modi commended the UAE’s policy of tolerance and coexistence among all nationalities that have taken the UAE as a second home. He stressed his country’s keenness on boosting friendly ties and strategic cooperation in different areas with the UAE for the interest of the two friendly peoples.
The two sides concluded their discussions by expressing their mutual desire and will to boost strategic relations and intensify collaboration and coordination in all areas, in order to boost bilateral partnerships that serve the development, growth and prosperity of the two friendly nations.
The two leaders also called on the international community to increase its efforts to achieve peace, security and coexistence for region’s countries and peoples. The two leaders condemned extremism, violence and terrorism in all their shapes and forms.
Mohamed, Modi witness historic Adnoc Offshore Concession Agreement
Sheikh Mohamed and Narendra Modi witnessed the signing of an historic agreement, awarding a consortium of Indian oil companies a 10% interest in Abu Dhabi’s offshore Lower Zakum concession.
Lower Zakum is one of three new separate concession areas that make up the former ADMA offshore concession, namely Lower Zakum, Umm Shaif and Nasr and Sateh Al Razboot (SARB) and Umm Lulu. The restructuring of concessions is aimed at maximising commercial value, broadening the partner base, expanding technical expertise, and enabling greater market access.
The concession award to the Indian consortium, marks the first-time Indian oil and gas companies have been given a stake in Abu Dhabi’s hydrocarbon resources.
Speaking at the signing, Prime Minister Modi said “The offshore concession in favour of the Indian consortium has taken our bilateral engagement in the oil and gas sector to a new level, which befits the comprehensive strategic partnership between our two countries. I am happy to note that we have progressed from a buyer-seller relationship to an era of mutual investments in the oil and gas sector.”
The consortium, led by India’s ONGC Videsh, contributed a participation fee of Dh2.2 billion ($600 million) to enter the concession. The concession will be operated by Adnoc Offshore, a subsidiary of Adnoc, on behalf of all concession partners.
The agreement, which has a term of 40 years and an effective date of March 9, 2018, was signed by Dr Sultan Ahmed Al Jaber, Adnoc Group Chief Executive Officer, and member of Abu Dhabi’s Supreme Petroleum Council, and Shashi Shanker, Chairman, ONGC Group of companies.
Dr Al Jaber said: “Our strategic partnership with ONGC, and the other members of the consortium, marks a new chapter in the strategic and economic relationship between the UAE and India. This mutually beneficial partnership will help India meet its growing demand for energy and refined products, create opportunities for Adnoc to increase its market share in a key growth market, and build a solid foundation as Adnoc explores potential international investments, particularly focused on downstream opportunities.
“This agreement demonstrates the confidence of the international market in Adnoc’s long term production targets and Adnoc’s strategy to maximise economic value and recovery from its offshore oil and gas resources. This is an attractive and strategic agreement for both parties that will deliver competitive returns and long term growth opportunities.”
The Indian consortium is made up of ONGC’s wholly owned subsidiary ONGC Videsh, which has stakes in 39 oil and gas projects, in 18 countries; the Indian Oil Corporation, India’s largest commercial enterprise, encompassing the entire hydrocarbon value chain, which caters to nearly half of India’s petroleum consumption with 11 of India’s 23 refineries a 13,000-km pipelines network and a countrywide marketing set-up of over 47,000 customer touch-points, and Bharat PetroResources, which has stakes in 23 oil and gas assets in 7 countries and is a 100% subsidiary of Bharat Petroleum Corporation Limited which has interests encompassing the entire hydrocarbon value chain.
Shankar said: “We are delighted to be chosen by Adnoc to participate in this important offshore concession. This historic agreement will lead to further opportunities for Indian oil and gas companies to participate in the UAE’s energy sector. The agreement reflects the vision of the Honourable Prime Minister of India towards strengthening hydrocarbon linkages with the UAE on a win-win basis.”
Indian energy demand is forecast, by the International Energy Agency (IEA), to grow by more than any other country in the period to 2040, propelled by an economy that will grow to more than five-times its current size and by population growth that will make it the world’s most populous country. Indian energy consumption is expected to more than double by 2040, accounting for 25% of the rise in global energy in the same period, and the largest absolute growth in oil consumption. Today, India is 79 per cent dependent on imports to meet its crude oil needs, 8 per cent of which is supplied by the UAE.
Expanded production from its offshore reservoirs are part of Adnoc’s plans to raise its onshore and offshore production capacity to 3.5 million barrels a day by the end of 2018. Today, Adnoc’s offshore fields produce about 1.4 million barrels a day.
Adnoc is finalizing opportunities, with potential partners, for the remaining 30% of the available 40% stake in the Lower Zakum offshore concession, earmarked for foreign oil and gas companies.
Alongside the concession award, Adnoc and the Indian Strategic Petroleum Reserves Ltd (ISPRL) exchanged agreements, today, to implement the strategic crude oil storage facility, in the southern Indian city of Mangalore. The partnership with ISPRL, an Indian government-owned company mandated to store crude oil for strategic needs, covers the storage of 5.86 million barrels of Adnoc crude oil in underground facilities, at the Karnataka facility.
The oil storage facility will help ensure India’s energy security, as well as enable Adnoc to efficiently and competitively meet market demand in India and across the fast developing south east Asian economies. The decision to establish the strategic reserve was announced, in January 2017, during a visit to India by Sheikh Mohamed bin Zayed.
The current ADMA offshore concession, which expires on 8 March 2018, will be split into three separate offshore concessions. These will be operated by Adnoc Offshore.
Signing of agreement, MoUs
The United Arab Emirates and the Republic of India signed on Saturday an agreement and four memoranda of understanding between the UAE and India as part of joint efforts to consolidate bilateral partnerships and cooperation and open up prospects for joint work.
Sheikh Mohamed and Narendra Modi witnessed the signing ceremony at the Presidential Palace in Abu Dhabi.
The two leaders witnessed the signing of an historic agreement, awarding a consortium of Indian oil companies a 10% interest in Abu Dhabi’s offshore Lower Zakum concession.
The UAE and Indian Ministry of External Affairs entered into a MoU on cooperation in manpower. It was sealed by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, and Navdeep Suri, Indian Ambassador to the UAE.
Another MoU between the UAE Federal Authority for Land and Maritime Transport and Indian Ministry of Railways was inked by Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, and Navdeep Suri, Indian Ambassador to the UAE.
DP World Group Chairman and CEO Sultan Ahmed bin Sulayem, and Haseeb Ahmed Drabu, the Finance Minister of Jammu and Kashmir, inked a MoU between DP World and the Government of Jammu and Kashmir.
The last MoU was also signed by Rashid Al Baloushi, CEO of Abu Dhabi Securities Exchange, ADX, and Ashishkumar Chauhan, Managing Director & CEO of Bombay Stock Exchange, BSE.
Alongside the concession award, Adnoc and the Indian Strategic Petroleum Reserves Ltd (ISPRL) exchanged agreement, today, to implement the strategic crude oil storage facility, in the southern Indian city of Mangalore. The partnership with ISPRL, an Indian government-owned company mandated to store crude oil for strategic needs, covers the storage of 5.86 million barrels of Adnoc crude oil in underground facilities, at the Karnataka facility.
The oil storage facility will help ensure India’s energy security, as well as enable Adnoc to efficiently and competitively meet market demand in India and across the fast developing south east Asian economies. The decision to establish the strategic reserve was announced, in January 2017, during a visit to India by Sheikh Mohamed bin Zayed.
Commenting on the signing of these agreements, Sheikh Mohamed bin Zayed said the historic Adnoc Offshore Concession Agreement signals the maturity of UAE-India’s long-term strategic ties in various sectors.
The agreement will contribute towards sustained prosperity in both countries and increase trade exchange consistent with Adnoc’s 2030 integrated strategic partnerships for smart growth,” His Highness said.
Speaking at the signing, Prime Minister Modi said “The offshore concession in favour of the Indian consortium has taken our bilateral engagement in the oil and gas sector to a new level, which befits the comprehensive strategic partnership between our two countries. I am happy to note that we have progressed from a buyer-seller relationship to an era of mutual investments in the oil and gas sector.”
The concession award to the Indian consortium, marks the first-time Indian oil and gas companies have been given a stake in Abu Dhabi’s hydrocarbon resources.
Lower Zakum is one of three new separate concession areas that make up the former ADMA offshore concession, namely Lower Zakum, Umm Shaif and Nasr and Sateh Al Razboot (SARB) and Umm Lulu. The restructuring of concessions is aimed at maximising commercial value, broadening the partner base, expanding technical expertise, and enabling greater market access.
The concession award to the Indian consortium, marks the first-time Indian oil and gas companies have been given a stake in Abu Dhabi’s hydrocarbon resources.
Modi arrives in Abu Dhabi for two-day state visit
Earlier, Indian Prime Minister, Narendra Modi, arrived in Abu Dhabi on Saturday on a two-day state visit to the UAE.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, led an entourage of UAE senior officials to welcome Modi upon arrival at the Presidential Airport.
The Indian Prime Minister was accorded a red-carpet reception where the UAE and Indian national anthems were played after which artillery fired 21 guns in salute to the VIP guest.
Modi shook hands with a group of Sheikhs, ministers and senior officials who came to the airport to welcome him, while His Highness Sheikh Mohamed bin Zayed Al Nahyan shook hands with Indian ministers and top officials accompanying Modi.
Those who welcomed the Indian prime minister included Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, H.H. Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Sheikh Khalifa bin Tahnoun bin Mohammed Al Nahyan, Director of The Martyrs’ Families’ Affairs Office at the Abu Dhabi Crown Prince Court, Ahmed Juma Al Za’abi, Deputy Minister for Presidential Affairs, Dr. Anwar Gargash, Minister of State for Foreign Affairs, Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, Dr. Sultan bin Ahmad Al Jaber, Minister of State, Zaki Nusseibeh, Minister of State, a number of senior civilian and military officials and Ahmed Al Banna, UAE Ambassador to India.
Modi is accompanied a high-level delegation comprising Ajit Doval, National Security Adviser, Navdeep Suri, Indian Ambassador to the UAE, and Shri Mridul Kumar, Joint. Secretary (Gulf).
Year of Zayed and Modi visit
Prominent Indians from different walks of life have paid glowing tributes to the Founding Father of the UAE, the late Sheikh Zayed bin Sultan Al Nahyan, and his pioneering role in planting the seeds of UAE-India friendship.
Several plans are being prepared to celebrate the Year of Zayed in India and there is growing awareness here of the commemoration of Sheikh Zayed’s legacy.
Suresh Prabhu, India’s Minister of Commerce and Industry, praised Sheikh Zayed’s vision which has transformed the UAE into a modern nation today. In a conversation with the Emirates News Agency, Wam, Prabhu described the bilateral relations between the UAE and India as the “best ever.”
“They are realising Sheikh Zayed’s vision in the centenary year of his birth,” he said. Prabhu, who was in Abu Dhabi less than a month ago for the fifth meeting of the UAE-India High Level Joint Task Force on Investments visited then a number of prestigious institutions in the emirate.
“Masdar is an outstanding example of new age technology being used and promoted in the UAE, reflecting the country’s vision for the future,” the Indian Minister told a visiting group of journalists from the UAE. He said political and diplomatic relations between the two countries were excellent, and that his challenge as Commerce and Industry Minister is to extend the same excellence to economic relations.
Prabhu recently chaired a meeting in Kampala, Uganda with his counterparts from Japan and the UK to promote joint exports. “A similar partnership with the UAE for multilateral economic initiatives is being planned,” he added.
Professor A.K.Pasha, Director of the Gulf Studies Programme at the prestigious Jawaharlal Nehru University, pointed to the UAE as the “most durable federation in the Arab world” and cited it in the Year of Zayed as the prime example of the vision of the Founding Father of the UAE.
He said hundreds of scholarships to students from Arab countries were being offered under the Indian Technical and Economic Cooperation, ITEC, programme and urged UAE students to avail themselves of these scholarships to study at universities in India.
Pasha expressed the hope that, with UAE emerging as a hub for education, courses on Indian studies would be offered in these institutions, reflecting the growing synergy between the UAE and India.
Pasha has written or edited 15 books on India and the Gulf with one more forthcoming. He headed the Indian government’s Maulana Azad Centre for Indian Culture in Cairo. He said that he hoped that a similar centre to promote UAE culture in India would be set up as part of expanding cultural agreements between the two countries.