Russia plans joint Arctic Shelf oil and gas projects with India

Moscow plans to invite companies from India to jointly extract oil and gas from Russia's Arctic shelf deposits, Kremlin aide Yuri Ushakov said Wednesday.

Russia plans to invite Indian companies to jointly extract oil and gas from Russia's Arctic shelf deposits, Kremlin aide Yuri Ushakov said Wednesday.

"There are plans to attract Indian companies to developing hydrocarbon deposits on Russia's Arctic shelf," he said.

In 2014, Russia's state-controlled oil company Rosneft signed a memorandum of understanding with India's Oil and Natural Gas Corporation, paving the way for joint projects in Russia's offshore Arctic.

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