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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 & Gas Enterprises Ltd (MOGE), National Oil Company of Myanmar, and Machine & Solutions Co Ltd (M&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.

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