India, Russia begin talks for cooperation in oil project

India, Russia begin talks for cooperation in oil project

Hindustan Times

India and Russia have begun preliminary talks on the participation of Indian companies in the Vostok Oil project in Siberia. Moscow is keen to firm up the contours of an agreement in this regard by the time Prime Minister Narendra Modi visits Russia in May, people familiar with the matter said.

Cooperation in the Vostok Oil project is being seen as a follow-up to the agreement signed by Indian Oil Corporation and Russia's state-run Rosneft Oil Company on February 5 for importing up to 2 million tonnes of oil a year, and will dovetail into New Delhi's plans to diversify the sources of oil and gas.

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