Eni Signs Contracts for Two Exploration Blocks Offshore Myanmar

Eni on Tuesday said it has signed two Production Sharing Contracts (PSC) for blocks MD-02 and MD-04 offshore Myanmar.

The contract is the result of Eni’s participation in the competitive International Bid Round launched by Myanmar. The Italian major will be the operator with an 80 percent participating interest through Eni Myanmar B.V, and  will partner with PetroVietnam Exploration Production Corporation Limited (20 percent).

MD-2 Block is located in the southern part of the Bay of Bengal, in the Rakhine Basin, approximately 135 kilometres from the coast, west of the Yadana field, the major offshore discovery in Myanmar. The Block covers an area of 10,330 square kilometres in water depths ranging from 500 to 2400 metres.

MD-4 Block is located in the Moattama-South Andaman Basin, approximately 230 kilometres from the coast, west of the Yetagun gas field. The block covers an area of 5,900 square kilometres in water depths ranging from 1,500 to 2,200 metres.

The contracts for the two blocks foresee a study period of two years, followed by an exploration period of six years, subdivided in 3 phases, Eni said.