- 12-12-2014
Oil India Limited led consortium signs Production Sharing Contract with MOGE, Myanmar for two Offshore Blocks in Myanmar
New Delhi, 12 December 2014
Oil India Limited, the second largest Government owned Exploration and Production company in the country, along with consortium partners signed Production Sharing Contract (PSC) with Myanma Oil & Gas Enterprise (MOGE) for two (2) offshore blocks M4 and YEB on 4th Dec, 2014 in a signing Ceremony held at Nay Pyi Taw, Myanmar.
OIL led consortium won these blocks under Myanmar offshore bidding round 2013 which was launched on April 11, 2013. In this Bidding Round, total 30 blocks were on offer (Shallow Water : 11, Deep Water : 19) and OIL's consortium bided for three offshore blocks M-4, M-8 and YEB.
OIL is the operator with 60% PI in both the blocks. Other consortium partners are Mercator Petroleum Limited (25% PI), Oilmax Energy Pvt. Limited (10% PI), and Oil Star Management Services Co. Ltd. (Local Company of Myanmar, 5% PI). Block M-4 with an area of 4008 Sq. Miles (Water Depth: Less than 600 ft) is located in Moattama Basin, while other block YEB with an area 8223 Sq. Miles (Water Depth : Less than 600 ft) is located in Thanintharyi Basin.
Signing Ceremony was attended by several Ministers and Officials of Myanmar Government including Union Ministers of Energy, Transport, Technology and Finance; Managing Director, MOGE; DG, Energy Planning Department (EPD) and several heads of EPD and MOGE. From OIL side, Mr. P. K. Sharma, Group General Manager (BD) signed the PSCs of both the blocks M-4 and YEB. From Indian Embassy in Myanmar, Mr. Sailas Thangal, Deputy Chief of Mission attended the Signing Ceremony
Mr. P. K. Sharma, Group General Manager (BD), Oil India Limited with Mr. U MYO MYINT OO, Managing Director, MOGE, Myanmar at the Production Sharing Contract (PSC) signing ceremony at Nay Pyi Taw, Myanmar
