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.
Dow Jones Newswires