Friday, January 27 2006 19:57 Hrs (IST) - World Time -

New Delhi: Heralding a new era in their relations, India and Saudi Arabia today (Jan 27,2006) agreed to closely and actively cooperate to fight terrorism and other transnational crimes and also develop a strategic energy partnership.

Prime Minister Manmohan Singh and Saudi King Abdullah bin Abdulaziz Al Saud signed a landmark 'Delhi Declaration' under which the two sides will work for closer cooperation in the field of information and communication technology, agriculture, bio-technology and non-conventional energy technologies.

The elements of the proposed strategic energy partnership between the oil-rich Shaikhdom and energy hungry India include reliable, stable and increased volume of crude oil supplies through 'evergreen' long-term contracts.

It also envisages cooperative and joint ventures, both in the public and private sectors, in the upstream and downstream oil and gas sectors in India and Saudi Arabia as well as in third countries.

Saudi investments in oil refining, marketing and storage in India, subject to commercial viability and setting up of India-Saudi ventures for gas-based fertiliser plants in Saudi Arabi are other aspects of the energy partnership.