Russia’s Rosneft, and two Indian oil majors, Oil India Limited and Indian Oil Corporation Limited, have signed a Memorandum of Understanding (MoU) to jointly carry out geologic survey, exploration, and production of hydrocarbons onshore Russia, the Scandinavian Oil & Gas Magazine reported.

The partners will explore possibilities within the Taas-Yuryakh Neftegazodobycha LLC assets and develop one of the largest greenfields in East Siberia, in addition to the potential development of other Rosneft’s projects in the territory.

The fresh deal, signed between India’s Prime Minister, Narendra Modi and Russian President, Vladimir Putin during Modi’s visit to Moscow, are expected to strengthen India’s position in the energy sector, Asian Oil&Gas informed.