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. Last Updated: 07/27/2016

India 'Optimistic' on Yukos, Vankor

LONDON -- Indian state oil and gas company ONGC said Thursday it was optimistic about gaining an interest in assets that may come available following the breakup of embattled Russian oil firm Yukos.

"We are in touch with the concerned entities ... We are in touch because we are optimistic," ONGC chairman Subir Raha told reporters on the sidelines of a conference in London.

Raha said ONGC was also negotiating to get an interest in oil fields including the Vankor oil field in Russia.

He said the firm was talking to gas monopoly Gazprom, Rosneft and the government.

Separately, the Indian government said it had granted ONGC the authority to negotiate directly with Russia over these projects, following discussions between the two governments.

The Russian government had indicated it was prepared to consider Indian participation in three fields, including Sakhalin-3 and one in the Caspian Sea, as well as Vankor.