ONGC-Videsh favours joint exploration with Russian firms
Saturday - Mar 20, 2010, 07:31pm (GMT+5.5)
Chennai, March 20 (IANS) State-run overseas oil and gas exploration company ONGC Videsh Ltd (OVL) wants to bid jointly with Russian companies for hydro-carbon projects in that country, a top government official said Saturday.
"We have strongly put forth to the Russian government for OVL to bid jointly with Russian companies - Rosnet Oil Company and Gazprom - for oil and gas exploration projects in Russia," Petroleum and Natural Gas Secretary S. Sundareshan told reporters here.
OVL, which has 20 percent stake in Sakhalin-1 project, wants to bid jointly with the Russian companies for the Sakhalin-3 project. Sundareshan said the government had strongly put forth its idea to Russian Prime Minister Vladimir Putin during his recent visit to New Delhi.
OVL is also looking at Trebs and Titov exploration blocks for which an alliance with Rosneft is being looked at.
Sundareshan said the company had started production in nine projects out of the 39 overseas projects it has.
OVL produces seven million tonnes per annum (MTPA) of oil and two MRPA of gas.
The government Friday permitted OVL to invest $2.1 billion in Venezuela.
On the issue of India-Pakistan-Iran (IPI) pipeline, Sundareshan clarified that India had proposed bilateral talks with Iran in May in Tehran, and not trilateral talks including Pakistan.
"The project is pending on the issue of price and point of gas delivery. A new pricing formula has been given to Iran. The gas should be delivered at Indian borders," he said.
India is concerned with the safe delivery of gas at its borders as the IPI pipeline would traverse around 1,000 km inside Pakistan.
India wants Iran to take responsibility of the gas delivery at its borders and payment will be made on delivery.
Iran wants a trilateral agreement -India, Iran and Pakistan- for the safe passage of gas and payment to be made even if the supplies gets disrupted in Pakistan.
| Other Articles: |
 |
Auction of oil and gas blocks under NELP IX soon (20th Mar, 2010) |
|
Toyota eyes 25 p.c. sales growth in India (20th Mar, 2010) |
|
Lafarge denies mining in Meghalaya despite court ban (20th Mar, 2010) |
|
Decision on new toll collection system likely by July (20th Mar, 2010) |
|
CNG prices up 50 paise a kg in national capital (20th Mar, 2010) |
|
SilkAir to fly to Bangalore, Chennai (20th Mar, 2010) |
|
Costlier milk pinches Delhiites (20th Mar, 2010) |
|
Sensex outperforms global indices, gains 2.4 percent (20th Mar, 2010) |
|
Himachal's CRI resumes vaccine production (20th Mar, 2010) |
|
Self-employed women's group to go global (20th Mar, 2010) |
|
Closure of Orissa railway sidings hits iron ore supplies (20th Mar, 2010) |
|
Gujarat acts on critically polluted clusters (20th Mar, 2010) |
|
Gujarat to build expressway soon (20th Mar, 2010) |
|
Serious implications of strike at Haldia: Tata Chemicals (20th Mar, 2010) |
|
AMTEK inks deal with Orissa for Rs.15,820 crore auto project (20th Mar, 2010) |
|
California seeks more Indian tourists (19th Mar, 2010) |
|
New project to improve India's data collation system (19th Mar, 2010) |
|
Coal India to hit capital markets in July (19th Mar, 2010) |
|
Sensex gains 59 points (19th Mar, 2010) |
|
Cabinet approves $2.18 bn investment in Venezuela oil block (19th Mar, 2010) |
|
No new tax in Tamil Nadu deficit budget for 2010-11 (19th Mar, 2010) |
|
'Way paved for excellent commercial outcome of Obama visit' (19th Mar, 2010) |
|
India wants US help to become a world-class manufacturing hub (19th Mar, 2010) |
|
As final health battle looms, Obama delays Asia trip (19th Mar, 2010) |
|
US stocks mixed on hopes of economic recovery, low inflation (19th Mar, 2010) |
|
Today : Thursday - May 24, 2012, 09:06pm (GMT+5.5)
