India’s ONGC takes two Myanmar blocks

Mumbai: ONGC Videsh Ltd (OVL), the overseas arm of Indian state-run petroleum explorer Oil & Natural Gas Ltd (ONGC), has signed production sharing contracts (PSCs) for two blocks in Myanmar.

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

Myanmar has proven energy reserves of around 50m barrels of oil and 283bn cu m of natural gas. [13/08/14]

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