Aug 1, 2014

Eni signs PSCs for onshore Myanmar blocks

Eni SPA has signed production-sharing contracts for two blocks in Myanmar with the country’s Ministry of Energy.

Block RSF-5 covers 1,292 sq km in the productive Salin basin 500 km north of Yangon. Block PSC-K covers 6,558 sq km in the unexplored Pegu Yoma-Sittaung basin in central Myanmar.

Eni is operator of the blocks with a 90% participating interest through Eni Myanmar BV. Myanmar Production & Exploration Co. Ltd. holds the other 10%.

The contracts provide for exploration periods of 6 years in three phases.

Source: Oil & Gas Journal