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Indian ONGC assesses possibility of Tagul shares purchase from Rosneft

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Indian ONGC assesses possibility of Tagul shares purchase from Rosneft

ONGC Videsh Ltd (OVL), the Indian state oil company, sets about assessing the possibility to purchase from Rosneft, the Russian oil company, 49 percent shares in Tagul oil field, India’s InfraCircle news agency reports on Monday, referring to its own sources.

According to InfraCircle, the cost of a package is estimated approximately at $1 bln.

In March this year, Rosneft and a consortium of Indian companies, Oil India, Indian Oil and Bharat Petroresources, signed a memorandum of understanding on the issue of cooperation regarding Vankor Cluster, that provides for conducting of a joint analysis of a potential partnership with the purpose to develop Suzun, Tagul and Lodochny oil fields.

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