India's state-run oil company ONGC is holding talks to participate in the development of Russia's Trebs and Titov oil and gas deposits, India's Deputy Petroleum and Natural Gas Minister Narasimha Raju said on Monday.
"Talks are being held," Raju said, when asked whether India was interested in the development of Trebs and Titov deposits.
The December 2 auction for the right to develop the huge Trebs and Titov deposits in the oil-rich Timan-Pechora province was won by Russia's Bashneft oil company. Other bidders, including ONGC, were not allowed to participate in the sale due to procedural violations in presenting their bid proposals.
MOSCOW, December 13 (RIA Novosti)