ONGC Videsh signs contract for Myanmar blocks

New Delhi: ONGC Videsh Ltd, the wholly owned subsidiary of ONGC, has signed production sharing contract (PSC) with the Myanmar Oil and Gas Enterprise (MOGE), a Government of Myanmar enterprise for three deep-water exploration blocks.

OVL is the operator in AD-2, AD-3, and AD-9 with 100 per cent participating interest in all the three blocks.

A statement issued by the company here said, the PSC was signed by Mr R.S. Butola, Managing Director of OVL, and by Mr U. Myint Htay, Managing Director of MOGE.

The occasion was graced by Mr Murli Deora, Minister of Petroleum & Natural Gas, and Brig-General Lun Thi, Minister of Energy, Myanmar.