MPEP lands two offshore blocks in partnership with BG and Woodside (Myanmar)
- Business & Finance
Myanmar Petroleum Exploration & Production Co., Ltd, a member company of the MPRL E&P Group of Companies, has announced the award of contracts for two offshore oil & gas exploration blocks in Myanmar to a consortium consisting of Woodside, BG and MPEP Ltd.
U Moe Myint, Chief Executive Officer of MPRL E&P Group of Companies said: “We are delighted to be partners with major companies such as BG and Woodside, which have selected MPRL E&P for its professionalism and considerable experience in the local petroleum and business environment. We are looking forward to sharing and learning from both companies, their worldwide expertise, in a fair and equitable spirit of cooperation.”
MPEP will participate in the consortium as a local partner for offshore blocks A-4 and A-7, which were won in the framework of the Myanmar Offshore Bidding Round (2013) together with Woodside and BG.
In accordance with the partnership, MPEP will have 10 per cent share in both Blocks A-4 and A-7, while BG and Woodside, will act as operators of these blocks respectively.
Block A-4 is located in water depths ranging from shore to 2,100 m and it is adjacent to the Ramree and Cheduba islands.
Block A-7 is located in water depths ranging from 50 m to approximately 2,400m, and it is adjacent to the south of Block A-6 where MPRL E&P made the first gas discovery in this area of the unexplored geological province of the southern Rakhine coastal region.
“MPEP believes that it will be able to bring extensive technical expertise and experience of its local engineers and geologists, efficiency in handling local logistics and supply its profound sensitivity of local culture and care for the environment, to this partnership,” said the company in a press release.