Russian Prosecutor General’s Office finds another 3 NGOs to be undesirableRussian Politics & Diplomacy April 26, 21:42
Moscow ‘seriously concerned’ about Turkish airstrikes in Iraq, SyriaRussian Politics & Diplomacy April 26, 20:55
North Korea ‘neither fears war nor wants to avoid it,’ says country’s UN missionWorld April 26, 20:37
Russia’s Emergencies Ministry to continue helping Serbia in mine clearance in 2017Military & Defense April 26, 20:20
Putin says Russia, China maintain relations at 'unprecedentedly high level'Russian Politics & Diplomacy April 26, 20:02
Polls shows number of happy Russians at record-breaking historic highSociety & Culture April 26, 19:27
IS recruiting Taliban fighters in Afghanistan — Russia’s General StaffMilitary & Defense April 26, 18:49
Coffin with presumed remains of 19th century Russian general dug up in TurkeySociety & Culture April 26, 18:26
Russian envoy says enacting nuke ban treaty will lay basis for stable strategic tiesRussian Politics & Diplomacy April 26, 18:13
GORKI, October 13. /TASS/. The government approved sale of 11% in Vankorneft to Indian ONGC, Rosneft CEO Igor Sechin told reporters on Thursday.
"The meeting of the commission on foreign investment has just finished, it was decided to approve sale of 11% in Vankor field to our Indian partners - ONGC. Thus, ONGC consolidates a package of around 49%, they will receive an appropriate number of seats on the board," he said.
Managing Director of ONGC Videsh Limited (OVL) Narendra Verma told TASS on Wednesday, that Indian companies are investing $5 bln in Vankorneft and TAAS-Yuryakh Neftegazodobycha.
"We have already agreed on purchasing 49.9% in Vankorneft and 29.9% in TAAS-Yuryakh Neftegazodobycha (together with a consortium of Indian companies - TASS). The total volume of investments - $5 bln. We have already invested $4 bln, $1 bln is left," he said.
Narendra Verma added, he is going to meet with President of Rosneft Igor Sechin on the sidelines of the BRICS summit. "Last time I visited Moscow we met with him. And this time, I think that he is visiting India and BRICS summit. We will meet, hopefully," he said.
Russia’s state-owned oil company Rosneft and a consortium of Indian companies Oil India, Indian Oil and Bharat Petroresources have signed a sale-purchase agreement on a 23.9% stake in Vankorneft for $2 bln and 29.9% in TAAS-Yuryakh Neftegazodobycha for $1.12 bln.
Vankorneft, a subsidiary of Rosneft, was founded in 2004 to carry out the project of the Vankor field development, the largest field to have been discovered and brought into production in Russia in the last 25 years.