News Brief | November 2016
Oil India eyes stake in Russia´s Vankor cluster oilfields
A consortium led by Oil India Ltd is eyeing stake in Russia´s Vankor cluster oilfields to consolidate its presence in Arctic region. OIL, IOC and BPCL is looking at buying a stake in Suzunskoye, Tagulskoye and Lodochnoye fields - collectively known as Vankor Culster, sources said. ONGC Videsh Ltd, is also interested in the fields. Rosneft, Russia´s national oil company that owns the fields, wants to retain a majority stake and is keen to sell only up to 49 per cent stake. In case OVL is accommodated, the entire 49 per cent stake would have to be split between the companies.