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January 31, 2001 		Feedback  
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Sakhalin oil deal to be signed on Friday

The ONGC-Videsh Ltd (ONGCVL) and Russia's state-owned Rosneft oil company are expected to sign the ambitious Sakhalin-1 oil deal on Friday, diplomatic sources here said.

Under the $one billion deal, ONGC-Videsh Ltd is to acquire 20 per cent equity in the offshore Sakhalin-1 oil block in Russia's far-east under production sharing arrangement.

The sources said the deal would be India's largest investment in Russia.

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