ONGC Videsh signed Production Sharing Contracts (PSCs) for two onland exploration blocks B-2 and EP-3 in Myanmar on August 8 this year.
The PSCs were signed at Nay Pyi Taw, Myanmar by Director (Exploration), ONGC Videsh, Managing Director of Machinery and solutions Co. Ltd. (M and S), local partner, and Managing Director of Myanmar Oil and Gas Enterprises Ltd (MOGE), National Oil Company of Myanmar. The Minister of Energy, Government of Myanmar presided over the signing ceremony and other Union Ministers, Regional Ministers, representative from Indian Embassy and seniors officers from MOGE attended the function.
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 and A-3 offshore blocks and Shwe Gas pipeline. The production of first Gas from this project started in July, 2013. (ANI)