The Indian O-N-G-C company and the Russian Zarubezhneft association sign a memorandum

The eastern branch of the Indian O-N-G-C national oil and gas company on Monday signed a memorandum on mutual understanding with the Russian Zarubezhneft foreign economic association. RIA Novosti was told about it on Tuesday by general representative of the Zarubezhneft in India Alexander Kleshchev.

According to him, the agreement to the tune of nearly 350 million rupees (some $7 million), provides for a contribution by the Russian side to the restoration of three wells in the Indian state of Assam in the east of the country.

In particular, second shafts will be sunk in the Lakva, Galeki and Rudrasaga exhausted wells.

Alexander Kleshchev said that the priority task of Zarubezhneft in India is to restore oil wells and introduce new technologies in the country's oil and gas industry.

Incidentally, the hydrocarbon resources in India were discovered with the assistance of the Soviet Union - in 1956 Soviet experts presented the first geological map of the country. Before that, all the explorations, done by the American Standard Oil company, testified to the lack of industrially important deposits of oil and gas in India.

The biggest well in the region of Mumbai (Bombay) annually gives about 15 million tons of oil, approximately as much as the White Tiger deposit in Vietnam which is being developed jointly with the Russian Sovietpetro enterprise.