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Russia promises 4-5 MT oil to India
By agencies
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Friday, 11 February 2005, 20:30 IST
NEW DELHI: Russia has promised India four-five million tonne of crude oil annually from its Far East Siberian oil fields if it fails to make ONGC Videsh Ltd a partner in Yuganskneftegaz, the core asset of Yukos that has been acquired by Russian state-owned Rosneft.
They have told us that they will accommodate ONGC Videsh Ltd in either Vankor oil and gas field or three other exploration blocks of Rosneft that would give five-six million tonne of crude oil annually," a top Government official said.
Asked if Yuganskneftegaz deal was off, Petroleum Minister Mani Shankar Aiyar said: "there are no full stops and dialogue is continuing." He did not speak further.
Sources said OVL will get equity in Rosneft's Far East Siberian fields that would be equivalent to giving India four-five million tonne of crude oil annually.
Besides, there was also a possibility of accommodating OVL in the gigantic Sakhalin-3 oil and gas fields in Far East Russia.
"Talks are continuing and I hope to take this forward when I visit Moscow on February 21," Aiyar said but did not elaborate.