• About Us
  • Copyright Policy
  • Disclaimer
  • Authors
  • Career
  • Contact Us
Assamese |   Bengali |  
Wednesday, January 20, 2021
NORTHEAST NOW
  • HOME
  • NORTH EAST
    • Assam
    • Meghalaya
    • Tripura
    • Mizoram
    • Manipur
    • Nagaland
    • Arunachal
    • Sikkim
  • Neighbours
    • Nepal
    • Bhutan
    • China
    • Myanmar
    • Bangladesh
  • Business
  • Entertainment
  • Sports
  • Environment
  • Citizen Journalists
  • Opinion
No Result
View All Result
  • HOME
  • NORTH EAST
    • Assam
    • Meghalaya
    • Tripura
    • Mizoram
    • Manipur
    • Nagaland
    • Arunachal
    • Sikkim
  • Neighbours
    • Nepal
    • Bhutan
    • China
    • Myanmar
    • Bangladesh
  • Business
  • Entertainment
  • Sports
  • Environment
  • Citizen Journalists
  • Opinion
No Result
View All Result
NORTHEAST NOW
Assamese
Home Neighbour Myanmar

India approves additional investment of US$ 121.27 million for Shwe oil & gas project in Myanmar

NE NOW NEWS by NE NOW NEWS
NEW DELHI , June 24, 2020 5:33 pm
Shwe oil & gas project in Myanmar

Representational image

Share on FacebookShare on Twitter

In a major development, the Union Cabinet on Wednesday approved additional investment by ONGC Videsh (OVL) towards further development of Shwe oil & gas project in Myanmar.

The decision was taken in a cabinet meeting chaired by Prime Minister Narendra Modi.

The participation of India’s PSU giant in oil & gas exploration and development projects in neighbouring countries is aligned with India’s Act East Policy, and also part of India’s strategy to develop Energy Bridges with its neighbours in addition to further strengthening India’s energy security needs.

The Cabinet Committee on Economic Affairs approved an additional investment of US$ 121.27 million (about Rs 909 crores) by ONGC Videsh Ltd (OVL) towards further development of Shwe oil & gas project in Myanmar.

ONGC Videsh (OVL) has been associated with exploration and development of Shwe gas project in Myanmar since 2002, as part of a consortium of companies from South Korea, India and Myanmar. The Indian PSU, GAIL, is also a co-investor in this project.

OVL has invested US$ 722 million (about Rs 3949 crores, as per corresponding average annual exchange rate) till 31st March 2019 in this project. The first gas from the Shwe Project was received in July 2013 and plateau production was reached in December 2014.

The Project has been generating positive cash flows since FY 2014-15.

COVID19 vaccine

Assam: 1,000 doses of Covid19 vaccines wasted at Silchar Medical College Hospital

Amit Shah visit

Assam: ADGP Bishnoi reviews security in Kokrajhar for Amit Shah’s visit on January 24

land patta

Mizoram Congress submits petition to Governor Pillai, seeks cancellation of illegal land pattas

Grand Alliance

Assam Assembly polls 2021: Congress forms ‘Grand Alliance’ with AIUDF, left parties, Anchalik Gana Morcha

NORTHEAST NOW

Northeast Now is a multi-app based hyper-regional bilingual news portal. Led by a group of professionals, the digital news platform covers every inch of the eight states of northeast India and the five neighbouring countries. It is the first of its kind new media initiative in the northeast, and is based in Guwahati. As the political dynamics in the northeast is intricate and fluid, Northeast Now is always politically neutral.

 
Our Properties
 
  • NORTHEAST NOW ASSAMESE
  • NORTHEAST JOBS
  • NORTHEAST TENDERS
  • INNFINITY
  • About Us
  • Copyright Policy
  • Disclaimer
  • Authors
  • Career
  • Contact Us

© 2019 - Maintained by EZEN Software & Technology Pvt. Ltd

No Result
View All Result
  • HOME
  • NORTH EAST
    • Assam
    • Meghalaya
    • Tripura
    • Mizoram
    • Manipur
    • Nagaland
    • Arunachal
    • Sikkim
  • Neighbours
    • Nepal
    • Bhutan
    • China
    • Myanmar
    • Bangladesh
  • Business
  • Entertainment
  • Sports
  • Environment
  • Citizen Journalists
  • Opinion

© 2019 - Maintained by EZEN Software & Technology Pvt. Ltd