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ONGC To Patricipate in Rosneft's Projects

Russia's state-run oil company Rosneft has offered Indian corporation ONGC

ONGC To Patricipate in Rosneft's Projects

Russia?s state-run oil company Rosneft has offered Indian corporation ONGC Videsh Limited stakes in 11 oil and gas projects in Russia including Yuganskneftegaz.

The offer was announced by Union Petroleum and Natural Gas Minister Mani Shankar Aiyar. He added, ?We have agreed on a basket of discovered fields and producing property in Russia, which might include Sakhalin-3, Vankor and number of others. Rosneft have indicated that they would want to take ONGC along in 11 identified projects.?

However, Aiyar said that a quick decision on Yuganskneftegaz could not be made because the merger of Gazprom and Rosneft had not been finalized, and because of the Yukos court case.

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