The Union Cabinet today gave its ex-post facto approval for an initial pact signed between India and Belarus in the oil and gas sector.
The memorandum of understanding (MoU) was signed on September 12, 2017 during the visit of president of Belarus to India, an official statement said.
The move is aimed at promoting 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 pact, 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 statement said.
It shall remain in force for three years for the day of its signing.
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