Deora to pitch for oil equity in Russia

NEW DELHI: Petroleum minister Murli Deora, who is meeting Russian energy minister Viktor B Khristenko in Moscow, is expected to make a case for Indian oil companies getting equity stakes in future Sakhalin projects .

The government is hopeful for more Indian participation after the success of OVL’s 20% stake in Sakhalin-I fields. It is now pushing for Indian participation in Sakhalin-III fields. Mr Deora has been invited to the inauguration ceremony of ‘Moscow Energy Dialogue’ on October 30, ’06. Russia is planning to invite bids in future for Sakhalin III, IV, V and VI projects. Sakhalin-I and II projects have already been decided.

Mr Deora will lead a team of top officials, including petroleum secretary MS Srinivasan, IOC chairman Sarthak Behuria and OVL managing director RS Butola.

He may also meet officials Gazprom and explore possibilities of sourcing gas from central Asian countries through pipelines. Gazprom may play an important role in the Turkmenistan-Afghanistan-Pakistan- India pipeline, sources said.