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Sistema Shyam Teleservices is looking to increase its foothold in the Indian Market

Middle East : 11 March 2010

Sistema Shyam TeleServices is the amalgamation of Sistema of Russia and the Shyam Group of India. It is considered to be the most successful financial corporation in Russia and the CIS. It has successfully diversified in countless areas including telecommunications, oil, gas and finance.

The ONGC (Oil and Natural Gas Corporation Limited) who are considered to be Asia’s best Oil & Gas Company have already been in talks with Sistema in relation to possible Oil and Gas exploration in Russia. Sistema already controls assets in the Russian Republic of Bashkortostan and would like to acquire more interests especially in the farthest north region of Russia.

Therefore it comes as little surprise that Sistema have welcomed the news that Russia’s Prime Minister Vladimir Putin is currently visiting India and is meeting with some of India’s largest Gas and Oil companies to discuss developing the country’s oil and gas fields.

Vladimir Putin has already stated that talks would include ONGC’s possible involvement in the development of many areas of Russia such as the Tivov oil and gas fields in northwest Russia and the area surrounding the Arctic peninsula of Yamal.

Russia aims to increase its trade with India by at least 50% by 2015 this would amount to approximately $20 billion and could include trade in fertilizers, defence items and possibly nuclear power.

Andrew Reid, Staff Writer, Gulf Jobs Market News
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