 "OIL, BPRL, IOC invest $1.7 bn for stake in Russian Taas-Yuriakh oilfield")
Three Indian oil firms plan to invest $1.7 billion to pick up a stake in the Russian oil field Taas-Yuriakh, a source close to the matter said.
Indian Oil Corp, Oil India Ltd and Bharat Petro Resources Ltd, the upstream arm of state-owned refiner Bharat Petroleum Corporation Ltd , will also invest $180 million each as part of future capital expenditures, the source said.
The Taas-Yuriakh field is currently producing 20,000 barrels per day (bpd) of crude oil and is expected to go up to 100,000 bpd in the next two years.
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