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Oil India-led consortium bags two Myanmar oil blocks

  •   Mon, Mar 31 2014 03:58:57 PM

Mumbai, March 31 (IANS): An Oil India-led consortium has won two offshore oil blocks in Myanmar for exploration.

"Mercator Petroleum Ltd, in consortium with Oil India Ltd and Oilmax Energy Pvt Ltd has been chosen as the selected candidate by the Ministry of Energy of Myanmar, for two shallow water offshore oil blocks in the Myanmar Offshore Block Bidding Round - 2013," city-base conglomerate Mercator said in a filing to the Bombay Stock Exchange (BSE).

Mercator Petroleum is a subsidiary of Mercator.

The consortium will enter into a Production Sharing Contract for these blocks with Myanmar's Ministry of Energy, the statement added.

The Oil India consortium has won the YEB and M-14 blocks in shallow water, the results of which auction were announced last week.

Mukesh Ambani-led Reliance Industries has also won two offshore blocks in the same Myanmar auctions.

International players Royal Dutch Shell, Chevron, Statoil and BG picked up most of the 30 blocks on offer.
  

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Title: Oil India-led consortium bags two Myanmar oil blocks



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