A consortium of Indian energy companies—including state major ONGC—is in early talks with Rosneft for the acquisition of a stake in the Russian state company’s massive Vostok oil project, the Economic Times reported , citing unnamed sources. “Talks are at a very early stage and the companies are evaluating the project,” one of the sources said. Meanwhile, Rosneft official reported it has been discussing the project with India’s oil minister Hardeep Singh Puri, who is currently visiting Russia. The Vostok Oil mega project in Siberia, which includes the Vankor and Payakha clusters, has resources estimated at 44 billion barrels . All those clusters are close to the Northern Sea Route that Rosneft wants to use to ship oil to Europe and Asia. The project will make up the backbone of Russia’s future oil production, tapping into 5 billion tons of oil to yield 50 million tons by 2024 and […]