Oil India has informed that Indian Consortium, led by Oil India Limited (OIL), along with, Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Limited (BPRL), a 100% subsidiary of Bharat Petroleum Corporation Limited (BPCL), signed definitive agreement to acquire up to 23.9% shares from Rosneft Oil Company (Rosneft), NOC of Russia in JSC Vankorneft, a company organised under the law of Russian Federation which is the owner of Vankor and North Vankor Field licenses. The acquisition is subject to relevant Board, Government and regulatory approvals and is expected to close by September 2016. The agreement was signed on June 17, 2016 during the St. Petersburg International Economic Forum (SPIEF) held in St. Petersburg In this regarding the Company has issued a Press Release.
The above information is a part of company’s filings submitted to BSE.
