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ONGC Videsh, the overseas arm of public sector oil explorer ONGC, said on Monday that it has signed production sharing contracts for two onland exploration blocks in Myanmar.
ONGC Videsh had participated in the Myanmar Onland Bidding Round 2013 and was awarded two onshore blocks – B2 and EP3 on October 10. The company already is a partner in two offshore blocks in Myanmar and Shwe Gas pipeline.
The partner of ONGC in the onshore projects is Machinery & Solutions Ltd.
On Monday, ONGC’s shares closed 0.32 per cent lower on the BSE at ₹ 392.90.
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