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News Brief | May 2014

ONGC Videsh may get stake in Myanmar block

Despite losing out in competitive bidding, ONGC Videsh Ltd (OVL), the overseas arm of state explorer Oil and Natural Gas Corp. Ltd, may still get a stake in a deep-sea block in Myanmar. OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields were awarded on 26 March.
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