Global energy major BP said on Wednesday it is holding a board meeting in India this week as it scouts for more opportunities in the country.

India, the world’s third-biggest oil importer and consumer, wants to quickly raise its oil and gas output, which has been stagnant for years.

In June, the government had said that the country’s top exploration company ONGC was seeking a technical tie-up with a global oil major to boost production from its western offshore Mumbai High fields.

BP had held a board meeting in the country more than a decade ago in 2013 after it had scooped up a 30 per cent stake in 23 oil and gas blocks of Reliance Industries.

BP and Reliance also have a fuel retail joint venture in the country, operating 1,900 outlets in the country.

“We see growing business opportunities, including through our world-class partnership with Reliance, producing the country’s gas and growing our joint retail presence,” BP CEO Murray Auchincloss said in a statement on Wednesday.

The board of BP began a five-day visit on September 23, holding board sub-committee meetings as well as meeting government leaders and business partners. In between, it will hold its full board meeting.

The statement, however, did not elaborate on the meetings or the venue of the board meeting.

The BP board met oil minister Hardeep Singh Puri over dinner on Tuesday evening. A PTI report said they also flew to Gadimoga in Andhra Pradesh for a visit to the landing point of gas produced from deepsea in the Krishna Godavari basin.

They are also expected to meet officials of Reliance in Mumbai. During their stay, the board will visit BP’s global business services centre in Pune.

“The 5-day visit of the BP board reflects BP’s significant and growing presence in India and its commitment to further develop its businesses in and with the country,” the company said.

During their visit, the board while recognising India’s key role in global energy demand, will hold meetings with the Indian government and BP’s business partners.

“There is huge potential for BP to work even more closely with India. India’s highly skilled engineering and scientific talent can help us deliver our targets more effectively, efficiently and rapidly,’’ BP chief executive Murray Auchincloss added.

BP is one of the largest international energy companies in India, with a century-long business presence and having invested over $12 billion across the energy value chain in the country.