OAO Gazprom
may enter two upstream projects with Oil India Ltd. (533106.BY), the Russian
state gas monopoly said Monday.
The two companies are in talks about a joint operation of the two projects, one
offshore and one onshore, that are located in India, Gazprom
said.
"They have invited us to be co-operator on two gas projects," a Gazprom
official said.
Oil India
is an Indian state energy company. An official from the company, who didn't
wish to be named, said it is in talks with Gazprom
to offload a stake in two onshore blocks: a Mizoram block in northeast India and a
Krishna Godavari onshore block in southern state of Andhra Pradesh.
The official said Oil India
holds about 80% stake in KG block and 75% stake in Mizoram block.
"They just discussed with us--nothing has been finalized so far," the
official told Dow Jones Newswires over telephone in New Delhi.
India's
upstream regulator, the Directorate General of Hydrocarbons, auctions
exploratory blocks. The companies usually participate in consortia to reduce
risks.