ONGC to pay $1.3 billion to Rosneft for share in Vankorneft
Edited by Rhod Mackenzie / 2016-03-24 05:48:35
The Government Commission on Foreign Investment has permitted deal on purchase of a share in Vankorneft by India's ONGC from Rosneft. This was reported by head of the FAS Igor Artemyev.
"On this deal, the Indian side will pay about $1.3 billion for the shares of Vankorneft," - he said.
ONGC and Rosneft concluded the contract on sale of 15% of Vankorneft for $1.27 billion on September 4. Vankor is one of the largest mining projects of Rosneft, it is carried out in Eastern Siberia.
