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    India's OVL Signs PSCs for Two Myanmar Onshore Blocks

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Summary

ONGC Videsh Ltd (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp (ONGC) signed Production Sharing Contracts ( PSCs) for two onshore blocks in Myanmar, ONGC said in a statement Monday.

by: shardul

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Asia/Oceania

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India's OVL Signs PSCs for Two Myanmar Onshore Blocks

ONGC Videsh Ltd (OVL), the overseas arm of Indian state-run explorer Oil and Natural Gas Corp (ONGC) signed Production Sharing Contracts ( PSCs) for two onshore blocks in Myanmar, ONGC said in a statement Monday.

The contracts were signed between OVL, Myanmar Oil & Gas Enterprises Ltd (MOGE), and Machine & Solutions Co Ltd (M&S), the local partner.

ONGC Videsh participated in the Myanmar Onland Bidding Round 2013, launched by Myanmar Government during January 2013 and was awarded two onshore blocks namely B2 and EP-3 on 10th October 2013.

ONGC Videsh already had presence in Myanmar as Partner in A-1 & A-3 offshore blocks and Shwe Gas pipeline. The production of first gas from this project started in July 2013.

 

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