Rosneft and Indian Oil Corporation Limited (IOCL) signed a contract for the supply of supply to India through the port of Novorossiysk to 2 million tons of oil until the end of 2022. Also Rosneft and ONGC Videsh Ltd., operating as the coordinator of the Oil India Limited, Indian Oil Corporation Limited, Bharat Petroresources Limited and Hindustan Petroleum Corporation Limited, entered into an agreement on the development of cooperation in education and training. About this “Lente.ru” reported in the press service “Rosneft”.
The signing took place during the visit of the President of the Russian Federation Vladimir Putin to India, in which his meeting was held with the Prime Minister of Narendre Moi and bilateral negotiations were held in an extended format. The leaders of the two countries are given great importance to the development of comprehensive trade and economic and investment cooperation. One of the key branches of interaction between the companies of the two countries is energy.
“Signing a new contract for the supply of oil confirms the strategic nature of the long-term partnership between the NK Rosneft and Indian Oil. It is important that cooperation between companies is developing in an integral format and covers the entire technological chain – from mining to the sale of raw materials. I hope our Interaction with Indian Oil will develop within the framework of other projects, “said Igor Sechin.
Since 2016, Indian companies (ONGC VIDESH Ltd., Oil India Limited, Indian Oil Corporation and Bharat Petroresources) owns 49.9 percent of the subsidiary of Vankorneft JSC. This company, located in the Krasnoyarsk Territory, is developing a Vankor oil and gas condensate field – the largest open and commissioned in Russia over the past twenty-five years.
Also, the Consortium of Indian companies (Oil India Limited, Indian Oil Corporation and Bharat Petroresources) belongs to 29.9 percent in the company “Tas-Yuryakh Neftegazodobyche”, which licenses on the plots of the Central Block of the Middlelistobinsky field and the Kourung Licensed Plot (other shareholders are Rosneft and BP).
Since 2001, Indian company ONGC Videsh Ltd. Participants in the project “Sakhalin-1” (other shareholders are Rosneft, Exxonmobil and Japanese Sodeco). In 2020, 12.4 million tons of oil and condensate were mined within the project, consumers were delivered more than 2.4 million cubic meters.