Russia’s state-owned company Rosneft and India’s ONGC Videsh Limited have closed the transaction for the purchase of 11% of Vankorneft by the Indian company, Rosneft said in a statement quoted by Tass.
The base price of the transaction is about $930 mln.
Earlier, Rosneft closed the transaction for the sale of 23.9% in Vankorneft to a consortium of Indian companies – Oil India, Indian Oil and Bharat Petroresources for $2 bln and a 29.9% stake in the Taas-Yuryah Neftegazodobycha for $1.12 bln. As a result, the share of the Indian state-owned companies in Vankorneft rose to 49.9%.
At the same time, the Russian government will order the sale of a 19.5 percent stake in state oil firm Rosneft (ROSN.MM) early next week, a government source told reporters on Friday.
Reuters reports that the sale should bring in around 700 billion rubles ($11 billion) to the budget, which has been hurt by lower oil prices and comes at a time when the government is looking around for money to cover social spending.
The state this month sold a 50.1 percent stake in mid-sized oil firm Bashneft to Rosneft for 330 billion rubles.