RIL will be the operator with 96% participating interest. United National Resources Development Services Co. Ltd. has the remaining interest.
Both the blocks are offshore in the Tanintharyi basin in water as deep as 3,000 ft (914 m) and together encompass total area of 27,600 sq km (10,656 sq mi).
Eni also has signed two production-sharing contracts for offshore blocks MD-02 and MD-04. The joint venture is between Eni, the operator with an 80% participating interest through Eni Myanmar B.V. and Petrovietnam Exploration Production Corp. Ltd. (20%).
MD-2 is in southern Bay of Bengal, in theRakhine basin, approximately 135 km (84 mi) from the coast, west of the Yadana field. The block covers 10,330 sq km (3,991 sq mi) in water depths ranging from 500 to 2,400 m (1,640 to 7,874 ft).
MD-4 is in the Moattama-South Andaman basin, approximately 230 km (143 mi) from the coast, west of the Yetagun gas field. The block covers 5,900 sq km (2,278 sq mi) in water depths ranging from 1,500 to 2,200 m (4,921 to 7,218 ft).