Business news

NEW DELHI, 11 September (BelTA) – The Belarusian industrial group Belorusneft intends to take part in another project to increase oil recovery in India, BelTA learned from Chairman of the Belarusian state petrochemical concern Belneftekhim Igor Lyashenko.

The Belneftekhim head reminded that Belorusneft has recently successfully completed the first joint project to increase oil recovery from the Digboi field in the north of the State of Assam. Belorusneft grabbed the opportunity of working with one of India’s largest state companies. Now Belorusneft is taking part in the next contract on increasing reservoir performance together with the company Oil India Limited.

As far as trade in petrochemical products made by Belarusian companies is concerned, the volume is close to $20 million. “The figure could have been higher but the Indian market is traditionally protected by large import duties. This is why we sell economically expedient volumes,” noted Igor Lyashenko.

According to the Belorusneft website, the company intends to step up its operation in India in the future by offering reservoir performance enhancement services, seismic survey services, and other oil industry services together with the Indian state oil companies Oil India Limited, Oil and Natural Gas Corporation Limited (ONGC), and other interested parties.