Cabinet Approves the MoU on Cooperation in Field of Geosciences Between the Joint Stock Company Rosgeologia, Russia and the Geological Survey of India

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the signing of Memorandum of Understanding (MoU) on cooperation in the field of Geosciences between the Joint Stock Company Rosgeologia (State holding Company) (referred to as ROSGEO), a legal entity incorporated under the laws of the Russian Federation and the Geological Survey of India (GSI), Ministry of Mines, Government of India.

The main objective of this MoU is to extend mutual cooperation for technological collaboration on exploration for deep-seated and / or concealed mineral deposit; analysis and interpretation of the aero-geophysical data; PGE and REE Exploration and Research; Joint development of the Indian Geoscience Data repository with the Russian state-of-the-art Information Technology; exchange of technology & knowledge in the field of drilling, sampling and laboratory analysis to achieve data accuracy, and cost optimization; and training and capacity building of scientific personnel etc., between “both the parties in the fields of Geosciences.

In view of the rich experience of ROSGEO and GSI and their potential of cooperation, this MoU is particularly beneficial in order to provide an umbrella framework for co-operation between GSI and ROSGEO in the field of Geosciences.

Background:

Joint Stock Company Rosgeologia (ROSGEO) is the largest geological State holding company in the Russian Federation with a developed production and technical capabilities, high professional competences and a unique scope of accumulated geological information. The company performs all types of geological prospecting and exploration activities from regional surveys for all types of mineral resources to estimation of the reserves and commissioning of the fields into operation, it possesses the unique competence in the area of offshore geological and on-shelf operations.

During the visit to India in the year 2020, a delegation of ROSGEO had a meeting with the Ministry of Mines and Geological Survey of India (GSI) to discuss the perspectives of Cooperation in exploration works in New Delhi. In this meeting, an MoU was proposed to be signed between GSI and ROSGEO on cooperation in the Field of Geosciences. Accordingly, GSI finalized a draft MoU in consultation with its Russian counterpart i.e. ROSGEO.