SOVIETS' E&D JOINT VENTURE IN INDIA BESET WITH WOES

A 4 1/2 year old joint venture of a Soviet agency and India's state oil company for exploration and development in India's Cauvery and North Cambay basins has been marred by inefficiency and rising costs from the start. ONGC and the Soviet Union's Technoexport in May 1985 signed an agreement covering the $458 million Intensive Integrated Exploration Program (IIEP). Long term Soviet credits were to be used to finance 70% of the costs of IIEP, which was to operate on a nonprofit,

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