State-owned oil companies Indian Oil Corporation (IOC) and Oil India Limited (OIL) are looking to buy visual_editor0% stakes each in Essar Group’s shallow-water Avisual_editor gas block in Myanmar’s western Arakan state, according to local press reports. Reserves at the block are thought to stand at 13 Tcf, 3 Tcf larger than the reserves found in India’s prolific KG-D6 fields.
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