ONGC Videsh signs PSCs for two onshore blocks in Myanmar
ONGC Videsh Ltd (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp (ONGC) has signed Production Sharing Contracts (PSCs) for two onshore blocks in Myanmar, ONGC said Monday.
The contracts were signed between OVL, Myanmar Oil and Gas Enterprises Ltd (MOGE), National Oil Company of Myanmar, and Machine and Solutions Co Ltd (M and S), the local partner.
OVL had participated in the Myanmar Onland Bidding Round 2013, launched by the Myanmar government and was awarded two onshore blocks, B2 and EP-3, in October.
OVL has participation in 35 projects in 16 countries including Bangladesh, Brazil, Colombia,Iraq, Kazakhstan, Libya, Mozambique, Myanmar, Russia, South Sudan, Sudan, and Vietnam.
(Posted on 11-08-2014)