Indian firms sign pact to buy stake in Rosneft's Vankor cluster

NEW DELHI (Reuters) - Indian Oil Corporation , Bharat Petro Resources Ltd, the exploration arm of Bharat Petroleum Corporation Ltd , and Oil India Ltd on Wednesday signed a pact to buy a stake in the Vankor cluster held by Russia's Rosneft, said the oil ministry during a press conference.

These companies will pick up a stake of 23.9 percent in the field.

During a media briefing held in New Delhi, amid a slew of signed deals, Rosneft's Chief Executive Igor Sechin also said that the company plans to close the deal to buy a 49 percent stake in India's Essar Oil Ltd by the end of 2016.

 

(Reporting by Nidhi Verma; Editing by Christian Schmollinger)