Oil & Natural Gas Corporation (ONGC), the national oil company of India, announced that ONGC Videsh signed production sharing contract (PSCs) for two onland exploration blocks B-2 & EP-3 in Myanmar. The PSCs were signed at Nay Pyi Taw, Myanmar by director (exploration), ONGC videsh, managing director of Machinery & solutions Co. (M&S), local partner and managing director of Myanmar Oil & Gas Enterprises (MOGE), National Oil Company of Myanmar.

The minister of energy and other union ministers, regional ministers, representative from Indian Embassy and senior officers from MOGE attended the function

Shares of the company gained Rs 8.1, or 2.06%, to trade at Rs 401. The total volume of shares traded was 61,487 at the BSE (9.48 a.m., Tuesday).