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Indian upstream oil companies plan to participate in the forthcoming bid round for hydrocarbon assets in Myanmar.
This was conveyed by Minister of State Dharmendra Pradhan to Myanmar’s Minister of Electricity and Energy U Pe Zin Tun.
According to a press release, Pradhan also put forward various proposals on participation by the Indian oil and gas companies in the mid-stream and downstream sector of Myanmar, including in refurbishment and upgradation of refineries in Myanmar, developing downstream market though supply of petroleum products, LPG, wax and petrochemicals.
India has also proposed integrating the Indian natural gas grid with Myanmar for developing their cities through city gas distribution network and also in the area of sourcing LNG.
Pradhan also extended proposals to assist Myanmar in training and capacity building its hydrocarbon officials.
At present, ONGC Videsh Ltd (OVL) and GAIL have invested in gas producing blocks in Myanmar. OVL and Oil India Ltd have invested in exploratory blocks.
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