India's ONGC to invest $5 bln in Russia projects in 2016

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

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.

First published by Sputnik.

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