OIL INDIA LTD. - Agreement with Petroneft Resources Plc - License 61

Oil India Ltd has informed BSE that :<br/><br/>"OIL has entered into an agreement with PetroNeft Resources Plc, a Company Registered in Ireland, in respect of 50% non-operating interest in License 61, Tomsk Oblast, Russian Federation with a total investment of up to USD 85 million."