MOSCOW, Nov. 4 (UPI) -- Moscow welcomed Indian Oil Minister Murli Deora Tuesday to discuss joining several oil and gas development projects in Russia.
Deora plans to meet with Russian Prime Minister Vladimir Putin ahead of a planned visit to New Delhi by Russian President Dmitry Medvedev in December.
India is looking to expand its efforts in Russia following a developing $2.6 billion takeover of British oil firm Imperial Energy by the state-owned ONGC Videsh Ltd. energy firm. Imperial holds several production contracts in southwest Siberia, RIA Novosti said Tuesday.
India is also examining, with ONGC, potential oil production off Russia's Far Eastern Sakhalin Island in the Sea of Okhotsk, where it holds a minority share in the Sakhalin-1 field consortium.
The Kremlin placed energy relations with India as a top priority in its foreign economic investment policies. India in October also reached a deal with the United States to develop its civilian nuclear energy program.
