Myanmar awards more offshore blocks

Two more companies have issued details of their newly awarded exploration permits offshore Myanmar, following the country’s 2013 offshore bid round.

Mar 27th, 2014
Offshore Myanmar
Offshore Myanmar

Offshore staff

SYDNEY, Australia – Two more companies have issued details of their newly awarded exploration permits offshore Myanmar, following the country’s 2013 offshore bid round.

Roc Oil will operate a production-sharing contract (PSC) for shallow-water block M07 in theMoattama basin. Terms call for an 18-month environmental impact assessment and study period, followed by an option to proceed to a three-year exploration phase.

The 13,000-sq km (5,019-sq mi) concession is water depths of 15-50 m (49-164 ft) in a gas- and condensate-prone area at the mouth of the Irrawaddy delta. It is 160 km (99.4 mi) east of the producing 6.5-tcf Yadana gas field and 110 km (68 mi) northeast of the 1.5-tcfZawtika gas field, which PTTEP is developing.

Production in the Moattama basin typically comes from stacked Miocene clastic reservoirs.

Ophir Energy has provisionally secured a 95% operated interest in deepwater block AD-03, subject to finalizing a PSC with the Ministry of Energy. The 10,000-sq km (3,861-sq mi) block is in the Rakhine basin, on trend with the multi-tcfShwe gas field.

During the initial exploration period Ophir will re-process existing 2D seismic and acquire 3D seismic data.

03/27/2014

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