MANGALORE: India "will have a privilege" of taking part in the exploration and production of crude and natural gas from the Sakhalin-III field in far-eastern Russia, Vyscheslav Ivanovich Trubnikov, Ambassador of the Russian Federation, said on Saturday. He said Russian Deputy Prime Minister A.D. Jukov, visiting the country from December 7 to 10, would discuss with the Government of India the issue of New Delhi taking part in exploration and production of hydrocarbons from the Sakhalin-III project.

The envoy was addressing a press conference with Union Petroleum Minister Murli Deora here after he (Mr. Trubnikov) handed over the first decanter of oil produced from the Sakhalin-I project, in which ONGC Videsh Limited (OVL) is an equity partner. From now the Mangalore Refinery and Petrochemicals Limited (MRPL) would refine Sakhalin-I crude brought by a Russian tanker to the Mangalore harbour.

To a question whether India pulled out of exploration and production of crude from the Sakhalin-II field as Russia was insisting on unfavourable terms, Mr. Deora said, "It is safe not to comment on an internal thing. I don't think we have any chance to talk about Sakhalin-II just now."

"Norms to be followed"

Mr. Trubnikov said the Sakhalin-II field was "under investigation for oil extraction" by the Russian Petroleum and Natural Resources Ministry.

There were some norms for preservation of nature, which should be adhered to.

"We do not want to talk about Sakhalin-II. We would prefer to talk about Sakhalin-III. India will have a privilege of taking part in the Sakhlain-III project."

Indian investments

R.S. Butola, OVL Managing Director, said India had invested $2.7 billion in Sakhalin-I field.

Of this, $1.2 billion was given as loan to Rosneft, Russian-state owned company which was another equity partner. Rosneft returned the loan. So Indian investment stood at $ 1.5 billion.

Hydrocarbon study

Petroleum Secretary M.S. Srinivasan said the Hydrocarbon Vision Study target was that 100 per cent of the sedimentary basins, including the Deccan, should be surveyed and explored for hydrocarbons by 2025. It was now advanced to 2015. The 11th Plan had "an extremely ambitious target" of covering 60 per cent of the sedimentary basins.

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