ONGC Videh Ltd. buys 15% stake in Russia's second-largest oil field from Rosneft

Q.  Name the company that has bought a 15% stake in Russia's second-largest oil field from Rosneft, for about USD 1.35 billion?
- Published on 07 Sep 15

a. ONGC
b. Indian Oil Corporation
c. HPCL
d. ESSAR Oil

ANSWER: ONGC
 
ONGC Videsh Ltd, the overseas investment arm of the state explorer, signed agreements in Moscow to buy 15 per cent stake in the Vankor oil field in East Siberia. The 15 per cent stake will give OVL about 3.5 million metric tonnes of oil a year. OVL already has a 20 per cent stake in the Sakhalin-1 oil and gas field off Russia's far eastern coast and owns Imperial Energy which has fields in Siberia.

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