India keen on hydro-carbon exploration deal with Russia
Published on Thu, Mar 11, 2010 at 15:00 | Source : Moneycontrol.com
Updated at Thu, Mar 11, 2010 at 15:34
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India keen on hydro-carbon exploration deal with Russia
India is keen to sign a memorandum of understanding (MoU) with Russia for hydro-carbon exploration, reports CNBC-TV18. India wants ONGC Videsh Limited (OVL), which was invented in late 2009 to develop gas fields in Yamal, to explore with Russian oil companies Gazprom and Rosneft, sources inform.
India is keen to sign a memorandum of understanding (MoU) with Russia for hydro-carbon exploration, reports CNBC-TV18. India wants ONGC Videsh Limited (OVL), which was invented in late 2009 to develop gas fields in Yamal, to explore with Russian oil companies Gazprom and Rosneft, sources inform. "India wants the MoU to discuss OVL's stake in Sakhalin III and its exploration in Yamal. Also, the MoU should include exploration possibility in east-Siberia."
Russia has plans to sign over USD 10 billion worth of deals with India during the visit of Prime Minister Vladimir Putin on Friday, Putin's deputy, Sergei Sobyanin, told Reuters in an interview on Wednesday.
The deals would range from contracts for the joint design of a fifth-generation fighter jet and production of multi-purpose transport planes to agreements to supply Russian mineral fertilisers and build new nuclear reactors.
"I believe the overall volume of trade and economic agreements will exceed USD 10 billion," Sobyanin, who chairs the Russian-Indian inter-government commission, said in comments e-mailed to Reuters on Wednesday.
He also said Indian energy firm ONGC had expressed interest in participating in the development of oil and gas fields on the Yamal peninsula in the Russian Arctic.
