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Ophir gets green light for Myanmar offshore PSC

06th February 2015

Ophir Energy has signed a Production Sharing Contract with the Myanmar Ministry of Energy that finalises the award of Block AD-03 offshore Myanmar

Ophir Energy has signed a Production Sharing Contract with the Myanmar Ministry of Energy that finalises the award of Block AD-03 offshore Myanmar
Ophir will re-process existing 2D and will promptly acquire 3D seismic data as part of the initial exploration period.

Ophir has a 95 per cent operated interest in the block which is located in the Rakhine Basin. The block is approximately 10,000 square kilometres in size and is on trend with the multi-TCF, producing Shwe gas field.

“Ophir is continuing to act counter cyclically to expand its exploration portfolio,” said Nick Cooper, CEO of Ophir. “The Block AD-03 PSC contains multiple mapped prospects with world class potential and we now look forward to completing a 3D seismic survey to refine this prospectivity.”

Ophir will re-process existing 2D and will promptly acquire 3D seismic data as part of the initial exploration period.

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