Ophir has a 95% operated interest1 in the block which is located in the Rakhine Basin. The Block is approximately 10,000km2 in size and is on trend with the multi-TCF, producing Shwe gas field.
Ophir will re-process existing 2D and will promptly acquire 3D seismic data as part of the initial exploration period.
Nick Cooper, CEO of Ophir, commented:
“Ophir is continuing to act counter cyclically to expand its exploration portfolio. 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.”
1The remaining 5% interest is held by Parami Energy Development Co. Ltd
Press release is available to download