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. Last Updated: 07/27/2016

Gazprom in India

Gazprom and Gas Authority of India Ltd. signed a comprehensive cooperation agreement during President Vladimir Putin’s visit to India last week.

The agreement covers the entire range of operations, from gas exploration, production and refining to pipeline construction and gas storage.

A Gazprom representative said the company would invest $35 million in the exploration of Block 26 off the Indian coast, a production sharing agreement won by Gazprom and GAIL earlier this year.

According to Gazprom, potential reserves may be 350 million tons of oil.