Report: India nods buying 15% in Russia’s Vankor field for $1.3 bln

MOSCOW, Dec 17 (PRIME) -- The Indian government has approved a purchase of a 15% stake in the Vankor oil field in East Siberia by explorer ONGC Videsh for U.S. $ 1.26 billion, local news daily Economic Times reported Thursday, citing sources with knowledge of the situation.

The deal is expected to be closed in mid-2016. The Vankor field stake will give ONGC 4 million tonnes of oil per year.

ONGC announced the purchase of the stake from Russian oil major Rosneft in September.

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