India-Kazakhstan oil pact likely by February
Wednesday, 8 December 2010
NEWDELHI, Dec 7 (Commodity Online): In an effort to fulfil the growing energy demands, India and Kazakhstan will likely to sign a key oil deal. As per the deal, India's OVL, the foreign arm of ONGC will acquire 25 per cent stake in Kazakhstan's Satpayev Block by end of February.
"It is an important point of cooperation between the two countries. The Nuts and bolts of the agreement are being discussed. It is in the advanced stages of finalisation and we hope the agreement will be signed before the end of February 2011," S Sundareshan, Petroleum Secretary of India, said.
"It is an important point of cooperation between the two countries. The Nuts and bolts of the agreement are being discussed. It is in the advanced stages of finalisation and we hope the agreement will be signed before the end of February 2011," S Sundareshan, Petroleum Secretary of India, said.