Gazprom mulls Indian upstream projects with Oil India

Russian state gas monopoly OAO Gazprom says it may enter two upstream projects with Oil India Ltd.

The two companies are in discussions over a joint operation of the two projects, of which one is an offshore project while the other is onshore, Gazprom said.

It said both projects are located in India.

A Gazprom official said that the Russian monopoly had been invited to be co-operators on the two gas projects.

An official from Oil India said it was in talks with Gazprom to offload a stake in two onshore blocks: a Mizoram block in northeast India and a Krishna Godavari onshore block in southern state of Andhra Pradesh.

The official said Oil India held around 80-per cent stake in KG block and a 75-per cent stake in Mizoram block.