Bid & Tender
Indian Companies Keep Interest in Petroleum Projects with Russia

Date : Nov 03, 2016

Indian companies remain interested in the extraction of hydrocarbons on the Russian shelf, as well as in joint LNG projects, though there are no specific projects on the table, Russia’s deputy energy minister said Wednesday.

 

"There are no groundbreaking things yet, the negotiations are currently underway. They [Indian companies] traditionally claim their interest. In general, they are interested since the country is energy and resource deficient. They have their finger on the pulse, try to constantly monitor the situation, confirm their interest," Russian Deputy Energy Minister Yuri Sentyurin said.

 

He pointed out that new projects should be implemented gradually. Sentyurin added that Indian companies were currently involved in major projects with Russia's Rosneft oil company. On October 28, Rosneft successfully hammered out a deal to sell 11 percent of Vankorneft's shares to India's Oil and Natural Gas Corporation (ONGC) Videsh Limited for $930 million.