Russia offers stake in 10 exploration blocks to India's ONGC -Minister

[jarves]

Russia's Rosneft, the world's largest listed oil company by output, has offered stake in 10 exploration blocks to the foreign investment arm of India's Oil and Natural Gas Corp, the south Asian nation's junior oil minister said.
India, the world's fourth-largest oil importer which meets about 80 percent of its crude needs through overseas purchases, is scouting for oil and gas assets abroad to meet rising local demand and to feed its expanding refining capacity.
Rosneft has offered 9 offshore blocks in Barents Sea Offshore and one in Black Sea for joint exploration to ONGC Videsh Ltd (OVL), Panabaka Lakshmi told lawmakers in a written reply on Friday.
"At present, OVL is studying the preliminary data provided by Rosneft for identifying the preferred blocks for participation with Rosneft," she said.
In response to a separate question, Lakshmi said OVL is in the process of acquiring data on oil and gas blocks offered in the latest exploration licensing round in Tanzania, a hotspot for natural gas exploration.
Gas utility GAIL (India) Ltd is also scouting for business opportunities in Tanzania, she said.

Russia offers stake in 10 exploration blocks to India's ONGC -Minister - Financial Express

 

[kaykay]

good news for India. Thanks to Russia.

 

[SR-91]

If feasible,They need to jump on it fast before China starts humping on it.

 

[HariPrasad]

Make partnership with Russia strong. Expand it beyond Mare defense. It is a win win situation for both the country.

 

[Aarush]

Barents Sea

Wow..finally ONGC presence in Arctic ocean....

 

[cloud_9]

Make partnership with Russia strong. Expand it beyond Mare defense. It is a win win situation for both the country.

We already have in oil and gas Sakhalin-I and Imperial Energy assets in Russia.

 

[Nishan_101]

Russia's Rosneft, the world's largest listed oil company by output, has offered stake in 10 exploration blocks to the foreign investment arm of India's Oil and Natural Gas Corp, the south Asian nation's junior oil minister said.
India, the world's fourth-largest oil importer which meets about 80 percent of its crude needs through overseas purchases, is scouting for oil and gas assets abroad to meet rising local demand and to feed its expanding refining capacity.
Rosneft has offered 9 offshore blocks in Barents Sea Offshore and one in Black Sea for joint exploration to ONGC Videsh Ltd (OVL), Panabaka Lakshmi told lawmakers in a written reply on Friday.
"At present, OVL is studying the preliminary data provided by Rosneft for identifying the preferred blocks for participation with Rosneft," she said.
In response to a separate question, Lakshmi said OVL is in the process of acquiring data on oil and gas blocks offered in the latest exploration licensing round in Tanzania, a hotspot for natural gas exploration.
Gas utility GAIL (India) Ltd is also scouting for business opportunities in Tanzania, she said.

Russia offers stake in 10 exploration blocks to India's ONGC -Minister - Financial Express

I would really like to see more and more investment in Russian, IRANIAN and IRQI Oil, Gas and Coal fields as the world is starving for fuel.