Gazprom mulls Indian upstream projects with Oil India

13 Dec 2010

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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.

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