ONGC and OIL signed Production Sharing Contract in two water Blocks of Bangladesh

ONGC Videsh Limited signed a Production Sharing Contract for exploration and extraction in shallow water in the Bay of Bengal of Bangladesh.

Created On: Feb 18, 2014 15:33 ISTModified On: Feb 18, 2014 15:39 IST

ONGC Videsh Limited (OVL) signed Production Sharing Contract (PSC) for two shallow water exploration blocks SS-09 & SS-04 and extraction in Bay of Bengal of Bangladesh on 17 February 2014. This contract can be considered as a significant milestone in India-Bangladesh relations.

The two Production Sharing Contracts was inked between the State-owned Petrobangla of Bangladesh and the ONGC Videsh. OVL participated in the Bangladesh Offshore Bidding Round in December 2012 after forming a consortium (50:50) with Oil India Limited (OIL).

About ONGC Videsh Limted (OVL)
OVL is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), the national oil company of India, and is India’s largest international oil and gas E&P Company. At present, OVL participates in 35 projects in 18 countries including Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Kazakhstan, Libya, Mozambique, Myanmar, Russia, South Sudan, Sudan, Syria, Venezuela and Vietnam.

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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