News: ONGC, Rosneft sign energy cooperation pact

(RTR 25/01/2007) New Delhi - Exploration company Oil and Natural Gas Corp. and Russia's Rosneft on Thursday signed a memorandum of understanding for cooperation in the energy sector, an ONGC official told Reuters.

ONGC Videsh and Rosneft are partners in the Sakhalin-1 oilfield, operated by U.S. oil major ExxonMobil and the two firms are also exploring a joint bid to acquire a stake in the Sakhalin-3 field as and when it is auctioned.