The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for a Memorandum of Understanding (MoU) signed between India and Belarus in the oil and gas sector. The MoU was signed on 12th September, 2017 during the visit of President of Belarus to India.
The MoU will promote bilateral relationship between India and Belarus and it is envisaged to enhance the economic and commercial cooperation between the two sides in oil and natural gas sector. Under the MoU, both sides will work towards establishing cooperation in the areas of upstream and downstream activities, capacity building, technology transfer, enhanced oil recovery and development of mature fields in India.
The MoU shall remain in force for three years for the day of its signing.