ONGC in talks with Rosneft to buy stake in Madagan 2 oil, gas block
BY SAURABH CHATURVEDI
NEW DELHI -- India's Oil & Natural Gas is in talks to buy a stake in oil and gas block of Rosneft, a senior executive at ONGC's overseas exploration unit told reporters.
D.K. Sarraf, Managing Director of ONGC Videsh., said a team from the company recently returned from Russia after collecting data about Rosneft's Madagan 2 block. He declined to elaborate."ONGC is aggressively looking to expand its overseas portfolio," he said.
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