Gazprom team in India next week to explore resources

New Delhi, Jan 25 (UNI) A team from Russia's Gazprom will visit India next week to explore possible areas of collaboration with state-owned ONGC and other companies, Mr R S Butola, Chairman of OVL, ONGC's overseas arm, said here today.

''While the Indian firm is looking at involvement in upstream exploration ventures in Russia, Russian firms are looking at refining, fuel retailing and petrochemical projects in India,'' he added.

As per the MoU signed today during Russian President Vladimir Putin's visit, Russia's Rosneft and ONGC would jointly study the possibilities for projects in exploration, production, marketing as well as other projects related to the hydrocarbon industry, including joint bidding for oil and gas stakes in Russia, India and other countries.

UNI