By Nidhi Verma
NEW DELHI (Reuters) – India’s Oil and Natural Gas Corp hopes that Russia’s take over of Sakhalin-1 oil and gas project by will not impact its stake in the asset as New Delhi has strong ties with Moscow, its chairperson said on Thursday.
A senior Russian lawmaker said on Thursday that Moscow would take control of the Sakhalin-1 oil and gas project in which ExxonMobil, Japan’s SODECO and India’s ONGC Videsh are partners, a week after taking over the neighbouring Sakhalin-2.
“I hope it would not impact us … our relation is too strong and it has been for too long,” Alka Mittal told Reuters.
ONGC Videsh, the overseas investment arm of state-run ONGC, has a 20% stake in the project.
(Reporting by Nidhi Verma.
Editing by Jane Merriman)
