ShweOil &Gas Project
- Government has approved additional investment of US$ 121.27 million by ONGC Videsh Ltd (OVL) towards further development of Shwe oil & gas project in Myanmar.
- ONGC Videsh (OVL) has been associated with exploration and development of Shwe gas project in Myanmar since 2002, as part of a consortium of companies from South Korea, India and Myanmar.
- The Indian PSU, GAIL, is also a co-investor in this project.
- The first gas from Shwe Project was received in July 2013 and plateau production was reached in December 2014.
Benefits
- Promoting Act East Policy: The participation of Indian PSUs in oil & ....
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