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India's ONGC to Invest $5 Bln in Russia Projects in 2016 - Official

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India's Oil and Natural Gas Corporation is eager to invest $5 billion in Russian projects. 16.06.2016, Sputnik International

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India's ONGC to Invest $5 Bln in Russia Projects in 2016 - Official

09:37 GMT 16.06.2016 (Updated: 09:53 GMT 16.06.2016)

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India's Oil and Natural Gas Corporation is eager to invest $5 billion in Russian projects.

The sign of a Rosneft gas station in Moscow - Sputnik International

Oil in Focus: Indian Energy Companies Eyeing Major Stakes in Russian Firms

14 June 2016, 16:34 GMT

ST. PETERSBURG (Sputnik) — India's Oil and Natural Gas Corporation intends to allocate a total of $5 billion for its projects in Russia in 2016, the company's Managing Director Narendra Kumar Verma said Thursday.

"The volume of investments we've discussed is $5 billion," Verma told reporters, adding that these were upstream projects.