The state-owned company was awardedshallow-water blocks SS-04 and SS-09 in the Bay of Bengal, signingthe PSCs on Monday.

ONGC is to spend $103.2 million in the initialfive-year exploration phase, with seismic acquisition planned.

The state-owned Indian player had late last yearreportedly offered to invest almost $40 million on 2D and 3D seismic surveyingand drilling two exploration wells on Block 4.

ONGC’s commitment spending on Block 9 was previously putat $68.4