MOGE, two foreign oil companies sign production sharing contracts

Union Minister U Zeyar Aung attends signing of production sharing contracts for AD-9 and AD-11 offshore Rakhine coast and MD-5 offshore Taninthayi coast.
Union Minister U Zeyar Aung attends signing of production sharing contracts for AD-9 and AD-11 offshore Rakhine coast and MD-5 offshore Taninthayi coast.

The signing of production sharing contracts for AD-9 and AD-11 offshore Rakhine coast and MD-5 offshore Taninthayi coast was held between Myanma Oil and Gas Enterprise under the Ministry of Energy and Shell Myanmar Energy Pte Ltd and Mitsui Oil Exploration Co., Ltd Group at Hilton Hotel, here, on 5 February.
Managing Director U Myo Myint Oo of MOGE, Vice President Exploration Asia/Australia Mr Graeme Smith of Shell Myanmar Energy Pte Ltd and Director Mr Kosuke Onishi of Mitsui Oil Exploration Co., Ltd signed the contracts.
MOGE will get US$61 million for signature bonus and US$300,000 for data fee. The companies will spent at least US$ 1.215 million during two years observation period and six years exploration period for three blocks.
The companies will conduct environment impact assessment and social impact assessment.
The ceremony was also attended by Chairman of Myanmar Investment Commission Union Minister U Zeyar Aung, Vice Chairman of the commission Union Minister U Htay Aung, Union ministers Dr Myint Aung and U Maung Myint, Attorney-General of the Union Dr Tun Shin and officials.

Share this post

Comments

Hot News
Hot News