Report: India may sign $2 bln deals with Russia’s Rosneft Tue

NEW DELHI, Mar 15 (PRIME) -- Indian state companies ONGC Videsh (OVL), Indian Oil Corporation (IOC), Oil India (OIL) and Bharat PetroResources (BPRL) may sign U.S. $2 billion deals with Russian oil company Rosneft to acquire stakes in the Taas-Yuryakh and Vankor fields in East Siberia later on Tuesday, news daily Financial Express reported, citing officials with knowledge of the matter.

The agreements are planned to be concluded during a visit of Rosneft’s CEO Igor Sechin to India, the sources said.

IOC, OIL and BPRL will buy 30% in the Taas-Yuryakh field and ONGC Videsh will raise its stake in the Vankor field to 26% from 15%, one of the officials said.

“The memorandums of understanding are already signed. The final agreements based on terms agreeable to both sides are to be decided. We hope to reach an agreement,” another senior government official said.

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