Mr. Murli Deora, Minister of Petroleum and Natural Gas, Government of India: I am delighted to learn that the Business Council for Cooperation with India is bringing out a publication titled “Russia and India: Partnership for the Future”.
I am delighted to learn that the Business Council for Cooperation with India is bringing out a publication titled “Russia and India: Partnership for the Future”.
India and the Russian Federation enjoy a strategic partnership built on a solid foundation of historically close and friendly ties. This partnership is steadily growing in the political, strategic and economic spheres. Our bilateral interaction in the energy and space sectors as well as military technical cooperation has been of special importance.
In the oil and gas sector, our premier National Oil Company, ONGC Videsh Ltd., has invested in the Sakhalin-I project. ONGS Videsh Ltd. has also made acquisition of Imperial Energy in Tomsk region at a cost of US$ 2.1 billion in January, 2009. We remain keen to promote further bilateral cooperation in the hydrocarbon sector for mutual benefit.
I am happy to mention that our two countries are working to conclude an Agreement to step up bilateral cooperation in the oil & gas sector. This Agreement is expected to be signed during President Medvedev’s visit to India in December, 2010. India and the Russian Federation will continue to work together to strengthen our partnership in the oil & gas sector, in consonance with the strategic partnership our two countries have established.
I send my warm greetings to all participants of the 4th Russian-Indian Forum on Trade and Investment in New Delhi.