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ONGC Videsh might soon buy stake in 2 Siberian oilfields

Oil & Gas
January 1, 2015January 1, 2015
ONGC Videsh might soon buy stake in 2 Siberian oilfields
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ONGC Videsh Ltd (OVL), the foreign arm of ONGC, is likely to soon acquire stakes in two Russian oilfields, Vankor and Yurubcheno-Tokhomskoye. Rosneft had, in October, made a formal offer to OVL to sell 10 per cent of its stake in the Vankor cluster in northern Siberia, the largest discovered field in Russia with reserves of 500 million tonnes (mt) of oil and 182 billion cubic metres of gas.

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