ONGC eyes Magadan block

摘要

India’s state-controlled ONGC could be next after ExxonMobil, Italy’s Eni and Norway’s state-controlled Statoil to take a role in one of Russian Rosneft’s many offshore projects. But unlike the western firms, which will bring techno- logical expertise, ONGC’s main contri- bution will be cash for risky and costly projects. Overseas investment arm ONGC Videsh wants a role in Rosneft’s Magadan 2 block, ONGC managing director DK Sarraf says.