Myanmar acreage dished out

Oil rigs

26 March 2014, News Wires – Shell, Chevron, Statoil and BG Group have all picked up operated acreage in Myanmar’s 2013 offshore bid round.

India’s Reliance Industries and Oil India were also joined by Italy’s Eni, France’s Total and Ophir Energy in getting awards.

US giant ConocoPhillips has also been awarded deep-water acreage, albeit alongside Norwegian state-owned player Statoil as operator.

The pair are taking a 50% slice each in Block AD-10, 200 kilometres off the coast. The acreage covers more than 9000 square kilometres and sits in 2000 metres of water.

Statoil will perform environment and social impact studies as well as acquire 2D seismic during the initial two-and-a-half-year study period, before deciding whether or not to enter into a three-year exploration period.

UK major BG is getting four blocks, two as operator. The operated blocks are A-4 and AD-2, in which it is getting a 45% and 55% stake, respectively.

BG is joined in the shallow-water A-4 block and deep-water AD-2 block by Australia’s Woodside Energy.

BG is also getting 45% in each of shallow-water Block A-7 and deep-water Block AD-5, both on a non-operated basis, with Woodside as operator.

All of the four BG blocks sit in the Rakhine basin in the western offshore province. The company has committed to 3D seismic on all blocks with options to drill.

Erling Vagnes, senior vice president for Statoil’s exploration in the Eastern hemisphere, said of its block award: “This is a large and virtually unexplored area in a basin with a proven petroleum system and thick sedimentary deposits.

“With this award, we have accessed at scale in another frontier acreage with significant upside, in line with our exploration strategy.”

Anglo-Dutch supermajor Shell has been awarded deep-water blocks AD-9, AD-11 and MD-5 as operator, all alongside Japan’s Mitsui Oil Exploration (MOECO).

Eni has picked up deep-water blocks MD-2 and MD-4 on its own, while Total has taken just Block YWB, another deep-water block and again with no partners.

Staying in deep-water acreage, Ophir is alone in getting Block AD-3.

In shallow water, US supermajor Chevron picked up Block A-5 while Reliance got blocks M-17 and M-18, all with no partners.

Blocks M-4 and YEB went to Oil India as operator alongside Mercator Petroleum and Oilmax Energy.

Berlanga Holdings picked up Block M-8, ROC Oil Block M-7, and Transcontinental Group Block M-15, all on their own.


– Upstream

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