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Journalism of Courage
ONGC Videsh Ltd,the overseas arm of state-owned Oil and Natural Gas Corp,has won two onland oil blocks in Myanmar,strengthening its presence in the south-east Asian nation.
OVL,which has stakes in the A-1 and A-3 gas discovery blocks and three other offshore acreages in Myanmar,was last week awarded two oil and gas exploration blocks in that countrys Onshore Blocks Second Bidding Round 8211; 2013.
The firm got Blocks B-2 Zebyutaung-Nandaw and EP-3 Thegon-Shwegu,according to the list of winners released by Myanmars Energy Ministry. Other pre-qualified Indian companies Cairn India,Oil India Ltd OIL,Jubilant Offshore Drilling and Prize Petroleum drew a blank.
Myanmar awarded 13 onshore blocks,with OVL,Italys Eni,Pakistans Petroleum Exploration PVT and Canadas Pacific Hunt Energy Corp each winning contracts to operate two blocks.
Malaysias Petronas,Brunei National Petroleum Co,CAOG Sarl of Luxembourg,Bashneft of Russia and PTT Exploration and Production of Thailand won one block each,the ministry said.
Myanmar had in January had offered 18 onshore areas 15 Production Sharing Contracts PSC and 3 Improved Petroleum Recovery Contracts IPR. It awarded 13 PSCs,while the IPR blocks went to MPRL of British Virgin Islands and Petronas.
Industry sources said 59 companies,including PetroVietnam,Sinopec of China,Total of France,Woodside Energy and ExxonMobil were originally pre-qualified to bid for the 18 blocks offered in Myanmars second onshore licensing round.
Myanmar plans to adjust certain terms in its PSCs to make it more attractive to foreign investment.
