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News // Russia

India To Invest In Russia

16 November 2004 , 14:25592
India is going to invest $3 billion in Russia?s developing oil and gas fields to help build an energy partnership, a news report said Sunday.

An agreement is likely to be signed during the visit of Russian President Vladimir Putin on Dec. 3-4 to New Delhi.
India plans to invest $1.5 billion in the Sakhalin-3 gas field and another $1.5 billion in the joint Russian-Kazakh Kurmangazy oil field in the Caspian sea, which has a potential of up to 1 billion metric tons of oil, the newspaper said.

India's Petroleum Minister Mani Shankar Aiyer recently visited Russia to boost energy cooperation between the two countries.

"In the first half century of Indian independence, Russia guaranteed our territorial integrity. And in the second half, it may be able to guarantee our energy security," the daily quoted Aiyer as saying.

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