Renault are expected to make the decision over their next driver before the Brazilian Grand Prix.
Renault announced Nico Hulkenberg before the US Grand Prix and since then there has been a lot of speculation regarding who his team-mate will be.
Many people are suggesting that because Ocon is French, the team will favour him over anyone else, however the team have consistently said that that is not the case.
Team principal Frederic Vasseur says that talks are moving slowly but a decision should be made soon. "The talks are moving slowly," he said. "I guess we will make a decision before the Brazilian grand prix."
Magnussen has been heavily rumoured to be leaving the team to join Haas F1, but Vasseur says that it is a trick of the journalists.
"Do not pay attention to the rumours," Vasseur insisted. "It's a trick of the journalists."
Bahrain International Circuit - Winter testing