MOSCOW - Russia's sovereign wealth fund, Mubadala of the United Arab Emirates and Saudi Arabia are in talks to buy a 16 percent stake in Russian oil drilling firm Eurasia Drilling, the head of the Russian fund said on Wednesday.

The deal is awaiting approval from a government commission, Kirill Dmitriev, head of the Russian Direct Investment Fund, said at a conference in Moscow.

(Reporting by Katya Golubkova Writing by Tom Balmforth Editing by Edmund Blair) ((;))