Myanmar offers non-attractive blocks to OVL
ONGC Videsh cant seem to find any exciting acreage in Myanmar.
Take offshore blocks M-1, M-8, A-5, A-6 and A-7. OVL has examined them in detail but is not impressed.
The data is limited, we learn. OVL is not very optimistic about the prospectivity of these blocks and is not interested unless additional data is made available by Myanmar.
Similar disappointment comes from OVLs analysis of new exploration areas under a regional geological study jointly carried out with the Myanmar government. OVL concludes, for example, that the Hukawng Basin is unattractive on a stand-alone basis and that it would make more sense to increase the scope of the study to include the Chindwin basin, to see if by combining the two areas the project becomes more viable.
OVL wants Myanmar to award it two offshore blocks: Block A in the Hukawng Basin and Block B in the Chindwin Basin.