Ophir Energy plc is pleased to announce that it has signed a Production Sharing Contract with the Myanmar Ministry of Energy which finalises the award of Block AD-03 offshore Myanmar.
Ophir has a 95% operated participating interest in the deepwater exploration Block AD-03 offshore Myanmar, which covers approximately 10,000 sq km in water depths up to 2,500 metres.
- Block AD-03 PSC signed in December 2014
- Completed a 10,800km2 3D seismic survey in June 2015
- Process and interpret seismic data and develop prospect inventory
Ophir's operated participating interest
Block AD-03 is located in the Rakhine Basin, on trend with the 9+ Tcf Shwe gas field development which exports gas to China via pipeline.
Ophir completed a 10,800 km2 3D seismic survey in June 2015. These data are currently being processed and will be interpreted during the second half of 2015 with a view to maturing a prospect inventory for drilling candidate selection as early as mid- 2016.