The CCEA has approved additional investment of how much by ONGC Videsh Ltd towards further development of blocks A-1 and A-3 Blocks of Shwe oil & gas project in Myanmar?

The CCEA has approved additional investment of how much by ONGC Videsh

1.	The CCEA has approved additional investment of how much by ONGC Videsh Ltd towards further development of blocks A-1 and A-3 Blocks of Shwe oil & gas project in Myanmar?
Answer» The CCEA has approved additional investment of US$ 121.27 million (about Rs.909 crore) by ONGC Videsh Ltd (OVL) towards further development of blocks A-1 and A-3 Blocks of Shwe oil & gas project in Myanmar. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), had picked up a stake in the Shwe Project in Myanmar in 2002, as part of a consortium of companies from South Korea, India and Myanmar. The firm has invested USD 722 million in the project till March 31, 2019.