Ophir Energy has signed a production sharing contract with the Myanmar Ministry of Energy which finalises the award of Block AD-03 offshore Myanmar.
The company has a 95% operated interest in the block which is located in the Rakhine Basin. The Block is approximately 10,000km2 in size and is on trend with the multi-TCF, producing Shwe gas field.
Ophir will re-process existing 2D and will promptly acquire 3D seismic data as part of the initial exploration period, thr company said in a statement.
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Press Release; Image: Ophir Energy