payday loans

India to seek stake in Sakhalin fields during Putin`s visit

India will seek a stake in future Sakhalin oil and gas projects in far-east Russia during the visit of President Vladimir Putin here later this week.

With ONGC Videsh Ltd's 20 per cent stake in Sakhalin-I field fetching the country 2.4 million tonnes of crude per annum, India will use the visit of Putin to participate in the country's republic day celebrations to push for OVL's participation in Sakhalin-III fields, a top official said.

Sakhalin-I and II projects have already been decided and Russia is planning to invite bids in future for Sakhalin-III, IV, V and VI projects in the vast energy-rich region.

India, which imports 73 per cent of its crude oil needs, wants an agreement between OVL and Russia's Rosneft for joint bidding for the Sakhalin-3 project. Also on OVL radar are the Trebs and Titov exploration blocks in Timan Pechora region, for which a partnership with Rosneft will be sought.

The official said India also wanted OVL to form a 49:51 joint venture with either Rosneft or Russian gas monopoly Gazprom to pursue other oil and gas exploration opportunities in Russia.

© Zee News

≡ Leave a Reply

Copyright © 2021 Yuzno.com | Yuzno.com is supported by WP + USB. Designed by milo.
| News RSS | Comments RSS.