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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

10/15/2012

 

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