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Our Bureau

New Delhi , Aug. 10

THE Myanmar Government and Daewoo have agreed to allow participation of an Indian consortium in the exploration of the A3 exploration block, according to an official release. The consortium consists of GAIL (India) Ltd and ONGC Videsh Ltd (OVL).

The Myanmar Government originally awarded the A3 block in February 2004 to Daewoo International Corporation, South Korea. This block, adjacent to the gas-bearing block A1, is considered to have a high potential for hydrocarbon finds.

Tripartite discussions to finalise the participation of the Indian consortium have been held this month in Yangon. The Indian consortium was led by the Managing Director of OVL, Mr Butola, and the Chairman and Managing Director of GAIL, Mr Proshanto Banerjee.

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