About the Event:

The CIS region has emerged as one of the largest oil producing regions, contributing around 15% of world oil exports and over 27% of gas exports. The estimated oil reserves of 127.45 billion barrels in CIS region account for over 9% of proven oil reserves in the world. The Natural Gas of 1881.14 trillion cubic feet, constitute around 30% of proven Gas reserves in the world. more...

Energy commodities dominate both exports and imports of CIS countries. The CIS energy sector has also attracted substantial FDI inflows. In the first half of 2007, Russia alone sawinvestments to the tune of USD 28 billion into its energy sector.

There are remarkable partnership opportunities between CIS, one of the largest oil producing blocks of the world and India the fifth largest energy consumer in the world. In 2007, oil & gas accounted for 40.8% of India's total commercial energy consumption. With a Reserves: Production (R:P) ratio of 22 years, India's existing domestic production of about 0.7 million barrels of oil per day (bopd) is much less than its current consumption of 2.8 million bopd, thus creating a wide gap to be met through imports.