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India's ONGC may join development of Dolginskoye oil field in Russia

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India's ONGC may join development of Dolginskoye oil field in Russia

ONGC, an Indian enterprise, is likely to join the development of the Dolginskoye oil field in the Pechora sea, Russia, Rambler News reports on Wednesday.

According to Russian Energy Minister, Alexander Novak, the agreement between Gazprom Neft on the part of Russia and ONGC on the part of India envisages the development of the Dolginskoye field.

As it was previously reported, Gazprom Oil and the Indian company ONGC Videsh signed an agreement on cooperation, which provided for the possibility of conducting joint offshore exploration.

Dolginskoye oil field is located in the central part of the Pechora sea, 120 km south from Novaya Zemlya archipelago and 110 km north from the mainland coast. Recoverable reserves are estimated at more than 200 million tons, and the growth in gas reserves is possible.

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