Rosneft will supply up to 2 million tons of oil to India and will cooperate in education 
Rosneft and Indian Oil Corporation Limited (IOCL) signed a contract for the supply of up to 2 million tons of oil to India through the port of Novorossiysk by the end of 2022. Also, Rosneft and ONGC Videsh Ltd., acting as the coordinator of Oil India Limited, Indian Oil Corporation Limited, Bharat PetroResources Limited and Hindustan Petroleum Corporation Limited, entered into an agreement to develop cooperation in the field of education and training. This was reported to Lente.ru by the press service of Rosneft.
The signing took place during the visit of Russian President Vladimir Putin to India, during which he met with Prime Minister Narendra Modi and held bilateral talks in an expanded format. The leaders of the two countries attach great importance to the development of comprehensive trade, economic and investment cooperation. Energy is one of the key areas of interaction between the companies of the two countries.
“The signing of a new contract for the supply of oil confirms the strategic nature of the long-term partnership between Rosneft and Indian Oil. It is important that cooperation between the companies is developing in an integral format and covers the entire technological chain – from extraction to the sale of raw materials. I hope that our interaction with Indian Oil will develop within the framework of other projects as well, “said Igor Sechin, head of Rosneft.
Since 2016, Indian companies (ONGC Videsh Ltd., Oil India Limited, Indian Oil Corporation and Bharat Petroresources) own 49.9 percent of the subsidiary Vankorneft JSC. This company, located in the Krasnoyarsk Territory, is developing the Vankor oil and gas condensate field – the largest discovered and commissioned in Russia over the past twenty-five years.
Also, a consortium of Indian companies (Oil India Limited, Indian Oil Corporation and Bharat Petroresources) owns 29.9 percent of Taas-Yuryakh Neftegazodobycha, which holds licenses for the Central Block of the Srednebotuobinskoye field and the Kurungsky license area (other shareholders are Rosneft and BP).
Since 2001, the Indian company ONGC Videsh Ltd. is a member of the Sakhalin-1 project (other shareholders are Rosneft, ExxonMobil and Japan's Sodeco). In 2020, the project produced 12.4 million tons of oil and condensate, delivered more than 2.4 million cubic meters to consumers.
Rosneft owns a 49.13 percent stake in the Indian company Nayara Energy, which includes first-class assets, including an oil refinery in the city of Vadinar with a capacity of 20 million tons per year. The plant is the second largest in India and one of the most technologically advanced in the world. The Indian company has already launched a refinery development program: within the first stage, it is planned to build installations for the production of polypropylene with a capacity of up to 450 thousand tons per year. Nayara Energy's business also includes a deep water port that can handle VLCC class extra-large tankers and one of India's largest retail chains.
The agreement on education and training was signed by the Chief Executive Officer of Rosneft Igor Sechin and the Managing Director, Chief Executive Officer of ONGC Videsh Ltd. Alok Kumar Gupta. The agreement is concluded in the development of successful cooperation between the parties in education and is part of the comprehensive cooperation of companies in the oil and gas sector.
Rosneft's unified corporate training system covers all categories of personnel and business areas. Lecturers of the best Russian and foreign universities, educational and consulting companies are involved in the training. Training programs are adapted to the current and strategic objectives of the Company.
As part of the agreement, it is planned to organize training for employees of Rosneft and Indian companies on the basis of educational organizations in Russia and India, including corporate training centers of Rosneft and Indian companies.
The agreement provides for the exchange of knowledge and experience in including in such areas as geology and exploration, drilling and geophysical research of wells, development and production, construction and operation of shelf fields, oil refining and petrochemicals.
Also, training will be conducted in the areas of commerce and logistics, environmental safety, industrial safety and labor protection, international project management, preparation and implementation of concession agreements and projects, automation of production processes, investment management.
Rosneft and ONGC Videsh signed a five-year Agreement on cooperation in the educational sphere within the framework of the BRICS summit in 2016. Within the framework of the Agreement during 2018-2019. successfully implemented bilateral training programs for employees of the Company and Group Companies in India in the following areas: HSE, offshore production and technology management. Also, employees of Indian companies have been trained in Russia on the topic “Stimulation of production and enhanced recovery of reservoirs in oil fields.”
Rosneft is actively developing an integral format of cooperation with Indian partners along the entire technological chain – from production to oil refining and sales of oil products. Since 2016, Indian companies (ONGC Videsh Ltd., Oil India Limited, Indian Oil Corporation and Bharat Petroresources) own 49.9 percent of the subsidiary Vankorneft JSC. This company, located in the Krasnoyarsk Territory, is developing the Vankor oil and gas condensate field – the largest discovered and commissioned in Russia over the past twenty-five years.
Also, a consortium of Indian companies (Oil India Limited, Indian Oil Corporation and Bharat Petroresources) owns 29.9 percent of Taas-Yuryakh Neftegazodobycha, which holds licenses for the Central Block of the Srednebotuobinskoye field and the Kurungsky license area (other shareholders are Rosneft and BP).
Since 2001, the Indian company ONGC Videsh Ltd. is a member of the Sakhalin-1 project (other shareholders are Rosneft, ExxonMobil and Japan's Sodeco). In 2020, the project produced 12.4 million tons of oil and condensate, delivered more than 2.4 billion cubic meters to consumers.
Rosneft owns a 49.13 percent stake in the Indian company Nayara Energy , which includes first-class assets, including a refinery in the city of Vadinar with a capacity of 20 million tons per year. The plant is the second largest in India and one of the most technologically advanced in the world. Nayara Energy's business also includes a deep-water port that can handle VLCC class extra-large tankers and one of India's largest retail chains. Nayara Energy plans to further expand the network of filling stations in India – up to 8 thousand in the next 3 years.