Indian Oil Corporation, Bharat Petro Resources, the exploration arm of Bharat Petroleum Corporation, and Oil India Ltd on Wednesday signed a pact to buy a stake in the Vankor cluster held by Russia’s Rosneft, said the oil ministry during a press conference.
These companies will pick up a stake of 23.9 per cent in the field.
During a media briefing held in New Delhi, amid a slew of signed deals, Rosneft’s Chief Executive Igor Sechin also said that the company plans to close the deal to buy a 49 per cent stake in Essar Oil by the end of 2016.
[SOURCE :-businesstoday]
