Sechin signed the agreement during a recent trip to India, where he met with government officials and the heads of many of the largest local oil and gas companies.

The executive noted that Rosneft and IOC signed an agreement on a significant increase to supply oil to India and the sale of its derivatives.

They discussed the expansion of the comprehensive Russian-Indian cooperation in the energy industry, and the possibility of reaching agreements on the national currencies of Russia and India, Sechin noted.

Particular attention was also paid to the ongoing implementation of joint projects between Rosneft and its Indian partners, including Sakhalin-1, Taas-Yuryakh, and Vankorneft, the official added.

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