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Oil India led consortium has completed the deal for acquisition of stakes in two Russian oilfields for a total of USD 3.14 billion.
OIL, Indian Oil Corp and a unit of Bharat Petroleum Corporation (BPCL) bought 29.9 percent stake in Taas-Yuryakh oilfield in East Siberia for USD 1.12 billion and another 23.9 percent in Vankor oilfield for USD 2.02 billion.
OIL has said in a statement that “The transaction received approvals from relevant government authorities of India and Russia in late September and completed simultaneously on October 5, 2016 in Moscow, Russia.”
