Russia has invited Oil and Natural Gas Corporation (ONGC) to consider buying a stake in the Magadan 2 field operated by Rosnett in the northern part of the Sea of Okhotsk. The Deputy Energy Minister of Ryussia Yury Sentyurin extended the invitation while speaking to reporters in New Delhi. Mr. Sennyurin said that the size of any possible stake was up for negotiation. India which imports about 80 per cent of its oil needs is on the hunt for supplies to power its near two trillion dollar economy while Russia is keen to tap its vast offshore reserves.