ONGC Videsh Ltd will invest $150 million over the next seven years in three deep-sea oil and gas blocks in Myanmar. Myanmar Government had recently awarded OVL 100 per cent interest in blocks AD-2, AD-3 and AD-9.
ONGC's overseas arm OVL signed Production Sharing Contract (PSC) with the Myanmar Oil and Gas Enterprise (MOGE), a Myanmar Government enterprise, at Nay Pyi Taw, an OVL release said here. The PSC was signed by OVL, Managing Director RS Butola and MOGE MD Myint Htay in the presence of Petroleum Minister Murli Deora and Myanmar's Energy Minister Lun Thi.
The blocks have been awarded to OVL on the basis of mutual understanding and cooperation between India and Myanmar in the hydrocarbon sector.
Via|The Pioneer
ASIA|ONGC's overseas arm OVL signed Production Sharing Contract (PSC) with the Myanmar Oil and Gas Enterprise (MOGE), a Myanmar Government enterprise, at Nay Pyi Taw, an OVL release said here. The PSC was signed by OVL, Managing Director RS Butola and MOGE MD Myint Htay in the presence of Petroleum Minister Murli Deora and Myanmar's Energy Minister Lun Thi.
The blocks have been awarded to OVL on the basis of mutual understanding and cooperation between India and Myanmar in the hydrocarbon sector.
Via|The Pioneer
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