Cabinet approves Rs 909 crore ONGC Videsh additional investment projects in Myanmar
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The Union Cabinet approved additional investment of Rs 909 crore by ONGC Videsh Ltd for development of blocks A-1 and A-3 Blocks of Myanmar. ONGC Videsh Ltd has been associated with exploration and development of Shwe project in Myanmar since 2002, as part of consortium of companies from South Korea, India and Myanmar. GAIL, is also an investor in this project. OVL has invested USD 722 million till March 31, 2019 in this project.