Indian energy firms are eyeing stake in oilfields in Russia’s Pechora and Okhotsk Seas as well as developing the LNG project in the former communist nation, a statement issued after talks between visiting Russian President Vladimir Putin and Prime Minister Narendra Modi said.
The two sides are also looking at the possibility of building a gas pipeline from Russia to India to supply energy, the joint statement said.
They also hoped for early completion of talks by Indian companies to take a stake in Vankor cluster at an early date.
ONGC Videsh, the overseas arm of Oil and Natural Gas Corp (ONGC), entered Russia in 2001 by buying 20 per cent stake in the Sakhalin-1 oil and gas field in Far East Russia. Read more