Oil India Ltd, the second largest State explorer, has signed a contract for two offshore oil and gas blocks it had bagged in Myanmar. OIL along with its consortium partners signed a production sharing contract (PSC) with Myanmar Oil and Gas Enterprise (MOGE) for two offshore blocks M4 and YEB at Nay Pyi Taw, the company said in a statement. The OIL-led consortium won these blocks under Myanmar offshore bidding round 2013 which was launched on 11 April 2013.
A total of 30 blocks (11 shallow water and 19 deepsea) were put on offer in this bidding round.
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