23 March 2010;deccanchronicle.com:New Delhi, March 22: State-owned Oil and Natural Gas Corp is in talks with three Russian companies for acquiring oil properties in Russia and the CIS region, company chairman and managing director, Mr R. S. Sharma, said. “We are in discussions with Rosneft, Gazprom and Sistema,” he said on the sidelines of the 6th Asia Gas Partnership Summit here. One of the properties under discussion is the Sakhalin 3 project in Far East Russia, he said. During the visit of the Russian Prime Minister, Mr Vladimir Putin, earlier this month, Moscow has ignored the demand by ONGC for stake in fields in Far East and East Siberia, but was willing to consider the Indian firm in the Arctic peninsula of Yamal. Ongc, however, was not excited by the Yamal offer and preferred stake in Sakhalin-3 and Vankor oil- fields. Sources said ONGC wants to source one million barrels per day of oil and oil-equivalent gas from Russia, and has identified Sakhalin-3 in Far East, Vankor in East Siberia, and Terbs and Titov oilfields in Timan Pechora region for this purpose. However, Russia has so far not obliged ONGC. Instead, it said Indian firms were welcome to join Russian gas monopoly Gazprom OAO in the Yamal Peninsula. ONGC Videsh Ltd, the overseas investment arm of the state explorer, has 20 per cent stake in Sakhalin-1 oil and gas field in East Russia and in 2008 acquired Imperial Energy.
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