Woodside agrees to terms for Myanmar entry

Offshore staff

PERTH, Australia – Daewoo International has accepted Woodside’s bid to farm in to a production sharing contract offshore Myanmar.

This covers block AD-7 in the deepwater Rakhine basin, in the western offshore area adjacent to Daewoo’s current Shwe development.

Subject to government approvals Woodside will take a 40% interest. The company and Daewoo plan a 3D seismic acquisition program during 2013-2014, with the option to drill an exploration well in a subsequent exploration period.

10/22/2012

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