Deals
Indian Consortium Buys Stake in Rosneft’s Vankor Oil Field
- Companies said to pay $2.02 billion for 23.9% of project
- Russia’s largest producer selling some assets to raise cash
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Oil India Ltd., Indian Oil Corp. and Bharat PetroResources Ltd. agreed to buy a 23.9 percent stake in Rosneft OJSC’s Vankor project, the largest oil field to be put into operation in Russia in the last 25 years.
The deal, announced by Rosneft Friday at the St. Petersburg International Economic Forum, is valued at $2.02 billion, according to two officials from companies involved in sale, who asked not to be identified because the price isn’t public.