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Offshore Production Sharing ONGC Videsh and oil India Coperate on Offshore Development in Bangladesh

| Editor: Dominik Stephan

ONGC Videsh (OVL) recently signed a Production Sharing Contract for two shallow water exploration blocks SS-09 & SS-04 in the Bay of Bengal of Bangladesh.

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ONGC Videsh agrees on production sharing with Oil India in an offshore project in the Gulf of Benghal
ONGC Videsh agrees on production sharing with Oil India in an offshore project in the Gulf of Benghal
(Picture: PROCESS)

New Delhi/India ‒ OVL along with Oil India Limited (OIL) formed a consortium (50:50) and participated in the Bangladesh Offshore Bidding Round 2012, launched by Bangladesh Government during December 2012. OVL/OIL consortium was officially notified as the winner of two shallow water blocks SS-09 & SS-04 on 20 August, 2013. Subsequently, the Production Sharing Contract (PSC) was discussed and initialed on 19 September, 2013 and the Government of Bangladesh approved the award of the blocks to OVL/OIL consortium on 3rd December, 2013.

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