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ONGC Videsh (OVL) has signed a Production Sharing Contract (PSC) for two shallow water exploration blocks in Bangladesh.
OVL along with Oil India Ltd (OIL) formed a consortium (50:50) and participated in the Bangladesh Offshore Bidding Round 2012, launched by the Bangladesh Government during December 2012.
OVL/OIL consortium was officially notified as the winner of two shallow water blocks SS-09 & SS-04 on August 20, 2013.
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