Essar Group, Rosneft to sign 10-year oil deal: Sources.

Essar Oil will soon sign a 10-year deal to import crude oil from Russia as President Vladimir Putin pushes to deepen energy ties with India to counter to US sanctions.

Essar Oil's Memorandum of Understanding (MoU) with Rosneft, Russia's biggest oil producer, is among the agreements that are to be signed during Putin's two-day visit, government and industry sources said.

Energy cooperation will figure prominantely in talks between Prime Minister Narendra Modi and Putin.

ONGC Videsh Ltd. and Oil India Ltd. (OIL) are likely to sign MoUs for exploration in Arctic and Eastern Siberia.

ET