The government of Myanmar has agreed to associate
the Gail (India) and ONGC Videsh consortium in the exploration and production
from the A3 block in offshore Myanmar.
Daewoo International Corporation which was
awarded the A3 block have also agreed to permit Indian consortium in the
project.
The tripartite discussions were held during the
month and other commercial terms are under discussion. The Indian consortium is
looking for sizeable level of equity participation in the project.
Related news:
OVL-Gail seek equity stake in Myanmar gas block
(6-Aug-04)