India?s Oil and Natural Gas Corporation has made a formal offer to buy a stake in Yuganskneftegaz, which has been bought by Russia?s state-owned oil firm Rosneft last December, Rosneft?s president Sergei Bogdanchikov said.
He said the company was currently studying ONGC?s offer. He added that ONGC is also expressing interest in taking part in oil projects in Sakhalin island and in the Pechora region.
India?s Petroleum Minister Mani Shankar Aiyar is expected in Moscow in the end of February for the NIP RoadShow and will discuss an acquisition of a stake in
Yuganskneftegaz during his planned meetings with Russian Prime Minister Mikhail Fradkov.
Russian media suggest that ONGC has offered $6 billion to Rosneft for 20 percent stake in Yuganskneftegaz.
