Oil India, Gazprom Sign MoU

Oil India and Gazprom signed a Memorandum of Understanding (MoU) for evaluating and pursuing exploration and production opportunities across the world, Oil India said in a statement Thursday.

The MoU was signed in Moscow by Oil India’s Chairman and Managing Director S K Srivastava and Valery Goulev, Managing Director of Gazprom International, reports BusinessLine newspaper.

“This is a very strong association and we should take advantage of leveraging each other’s strengths,” said Srivastava of Oil India in a statement. “Our countries have a history of close co-operation and very good relations and I sincerely hope that our partnership will grow from strength to strength and yield results in the shortest time possible.”

The MoU also provides an option to the companies for technological association and any area or project of common interest would also be covered, BusinessLine adds.