Igor Sechin Held Working Visit to India

Rosneft President, Chairman of the Management Board Igor Sechin had a meeting with Indian Oil Secretary Saurabh Chandra.

The Parties expressed satisfaction with successful development of bilateral cooperation between Russia and India in many sectors of economy, including fuel and energy sector. They also mentioned strategic nature of partnership between the two countries and high potential of relationship development between Rosneft and Indian companies. Igor Sechin outlined the possible areas of increased cooperation. In particular, Indian companies may potentially become buyers of liquefied natural gas from the Far East LNG project, the launch of which is scheduled for 2018-2019.

Igor Sechin also held a series of meetings with senior executives of leading Indian oil and gas companies.

During the negotiations with Mukesh Ambani, Reliance Industries Ltd. President and Managing Director the Parties discussed possible ways of partnership as part of Rosneft ambitious program aimed at Russian shelf development.

Rosneft shelf projects also became one of the main topics of discussion at the working meeting between Igor Sechin and Dinesh Kumar Sarraf, Chairman and Managing Director of ONGC. The companies are connected by long history of productive cooperation. ONGC company has been Rosneft partner in Sakhalin-1 project since 2001. The Parties believe this cooperation provides a solid base for expansion of joint activities. The companies also discussed opportunity for cooperation within the framework of the Far East LNG project implementation and long-term agreement for oil supply to India.

Igor Sechin raised questions in the field of Rosneft oil trading during negotiations with Ranbir Singh Butola, Indian Oil Corporation Ltd. President. Igor Sechin offered to evaluate the prospects for supply of ESPO oil to Indian Oil. The Parties also considered partnership regarding bunkering and jet fuel.

Rosneft
Information Division,
March 25, 2014