Australian oil and gas giant Woodside announced on Monday, December 10,
that its offer to farm-in, or operate, the A-6 Block in Burma’s Rakhine
Basin has been accepted.
It said it will assume a 50 percent
share of the block alongside MPRL E&P Pte Ltd, which in 2007 signed a
production-sharing agreement with the Myanma Oil and Gas Enterprise for
Block A-6.
The offer, it says, is subject to certain conditions
including execution of fully-termed agreements, completion of due
diligence, and necessary government and other approvals.
“The
proposal provides the opportunity for Woodside and MRPL E&P to
undertake a 3D seismic survey program in the block and also provides an
option for future drilling,” Woodside said in a statement, adding that
MPRL E&P will remain operator of Block A-6 for the current term of
the exploration period.
“The proposed agreement also provides
Woodside and MPRL E&P with the opportunity to participate jointly in
future deepwater bid rounds,” the statement said.
“This farm-in
grows Woodside’s existing interests in Myanmar. In October 2012 the
company announced acceptance by Daewoo International Corporation of its
offer to farm-in to the Production Sharing Contract for Block AD-7, also
in the Rakhine Basin,” it said.
source: Mizzima
http://www.mizzima.com/business/8544-woodside-announces-deal-on-block-a-6.html
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