MOSCOW (Pakistan Point News / Sputnik - 02nd September, 2021) Russian oil company Rosneft said on Wednesday that CEO Igor Sechin and Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, have discussed joint ventures.
Rosneft's ventures with Indian partners include production enterprises Taas-Yuryakh Neftegazodobycha, Vankorneft and Sakhalin-1, as well as Indian energy company Nayara Energy, which operates a cutting edge refinery plant in Gujarat, as well as a network of gas stations across the country.
"During the meeting, they discussed the issues of implementation of joint projects, strengthening cooperation in the areas of oil and gas production, refining and petroleum chemistry, and selling hydrocarbons," Rosneft said in a statement.
Sechin boasted of the company's leading role in Russian-Indian investment cooperation, as Rosneft and its Indian partners have invested a total of over $17 billion in various projects, which is more than half of all bilateral investments between the two countries so far.
The Indian minister also presented Rosneft's flagship project � Vostok Oil � with Sechin explaining its key parameters and competitive advantages.
The project is expected to combine the largest oilfields in the Vankor cluster (the Vankor, Suzunskoye, Tagulskoye and Lodochnoye fields), as well as the Payakha group of fields and the Zapadno-Irkinsky area. For the needs of the project, it is planned to build a port in the Sever Bay in Russia's Krasnoyarsk Territory, from which oil is planned to be exported along the Northern Sea Route.
