Russia offers stake in Magadan-2, Magadan-3 blocks to OVL

Last Updated: Tuesday, December 18, 2012, 13:34

"OVL team visited the data room and blocks are currently under evaluation," he said in a written reply to a question in Rajya Sabha here. "Based on initial evaluation, blocks are indicated to be rank exploratory in nature and involve high risk of investment."

ONGC Videsh profit drops by 39% in Apr-Sept

Last Updated: Sunday, November 11, 2012, 11:20

Net profit in April-September at Rs 1,649 crore dropped 39.3 percent from Rs 2,717 crore in the same period a year ago, the company said in a press statement here.

OVL in talks to buy stake in Rosneft-operated Madagan-2 field

Last Updated: Monday, October 15, 2012, 19:58

The area is estimated to hold 2.8 billion tonnes of oil and oil equivalent natural gas.

Exxon, Rosneft tie up in Russian Arctic, US

Last Updated: Tuesday, August 30, 2011, 22:29

US oil company Exxon and Russia's Rosneft signed a deal on Tuesday to develop oil and gas reserves in the Russian Arctic, opening up one of the last unconquered drilling frontiers to the global industry No.1.