BANGKOK, Thailand – PTTEP International Ltd has agreed to divest 20% operating interest in block M-3 offshore Myanmar to Mitsui Oil Exploration Co. Ltd.
M-3 covers 6,206 sq km (2,396 sq mi) in the Gulf of Martaban. PTTEPI is the operator and had held 100% of the interests. The transaction is subject to official approval by the Republic of the Union of Myanmar.
Natural gas was discovered on the acreage by the Aung Sinkha-2 exploration well.