The two onshore blocks include B2 or Zebyutaung-Nandaw and EP-3 or Thegon-Shwegu, while B2 covers an area of about 16,995km² and is located in close proximity to the bordering state of Manipur of India, in Northern Myanmar.
The EP-3 has a footprint of 1,650km² and is situated in Central Myanmar.
ONGC chairman Sudhir Vasudeva said, "The acquisitions of producing and exploratory assets reflect the success of the strategy adopted by the company to quickly add reserves/ production through a balanced portfolio approach."
Earlier, ONGC Videsh had secured 17% non-operating stakes in the fields Shwe & Shwe Phyu or block- AI, and Mya North & Mya South or block-A3 in the country with an investment of about $565bn.
Currently, OVL produces about 160 thousand barrels of oil and oil equivalent gas per day, while it is expected to include about 433mmtoe of oil and gas reserves.
