PetroVietnam Signs farm Out Deal With Maurel & Prom

PetroVietnam Exploration Production Corp., or PVEP, a subsidiary of PetroVietnam has inked a deal with France's Maurel & Prom where the former would transfer part of its interest in the M2 Mottana Block offshore Myanmar to the French company. 

This license is located in the western part of the Gulf of Martaban and covers an area of 9,652 square kilometres. It is close to Block A7 to the north, Block M3 to the east where gas has been discovered and is ready to be brought on stream and Block M5 to the south where the 5TCF Yadana gas field was found.

The two companies wish to jointly develop E&P ventures in Myanmar and other parts of the world.