Q. The Cabinet Committee on Economic Affairs (CCEA) has approved additional investment of USD 121.27 million for the Shwe oil and gas project in which country?
Answer:
Myanmar
Notes: The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, has recently approved additional investment of USD 121.27 million for the Shwe oil and gas project in Myanmar.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is to invest in the oil and gas project, for development of Block A-1 and A-3 blocks. OVL had acquired a stake in the Shwe Project in 2002 and has invested USD 722 million in the project till March 31, 2019.