ONGC Videsh Ltd along with other group partners have announced take-over of gas blocks in Myanmar offshore.
New Delhi: ONGC Videsh Ltd (OVL), along with other group partners of Blocks A-1 and A-3 in Myanmar offshore, have announced take-over of gas blocks based on an independent assessment/certification.
OVL holds 20 per cent participating interest in these blocks.
The other partners in the blocks are Daewoo International Corporation 60 percent (Operator), Korea Gas Corporation (10 per cent) and GAIL (India) Ltd 10 per cent.
The Shwe and Shwe Phyu field appraisal was completed in May 2006.
The Consortium has further announced that they will drill two appraisal wells in Myanmar discovery. The group has identified two more prospects in Block A-3 where they plan to drill one or two exploratory wells in 2007.
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