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Igor Sechin Held a Working Meeting with Secretary in Indian Ministry of Petroleum & Natural Gas and ONGC Chief

14 May 2014

Rosneft President Igor Sechin held negotiations with Saurabh Chandra, Secretary in Indian Ministry of Petroleum & Natural Gas, and Dinesh Sarraf, ONGC Chief.

The parties discussed progress in cooperation between Rosneft and ONGC. The parties noted that this second meeting for the last two months is a demonstration of keen interest in the cultivation of partnership. In negotiations the parties noted satisfaction with current cooperation, specifying large-scale opportunities for its development, particularly, within the framework of implementation of joint projects on the Russian shelf and possible participation of ONGC in Rosneft gas projects.

Notes for Editors:

Since 2001, Rosneft and ONGC have been cooperating within the framework of Sakhalin-1 project (ONGC acquired 20% share in Sakhalin-1 project from Rosneft).

Sakhalin-1 project is implemented subject to production sharing agreement (came into operation in 1996), and includes three fields (Chaivo, Odoptu, and Arkutun-Dagi) on the northeast Sakhalin shelf.

Project participants are:

  • Exxon Neftegaz Limited (30%);
  • Sakhalin Oil and Gas Development Co., Ltd. (30%);
  • Rosneft (20%);
  • ONGC (20%).

Rosneft Information Division
May 14, 2014