Tap signs PSC for offshore Myanmar block

Offshore staff

WEST PERTH, Australia - Tap Oil has formalized its debut as an operator offshore Myanmar.

The company and local partner Smart E&P International have signed the production sharing contract for shallow-water block M-7 in the Moattama basin with Myanmar Oil and Gas Enterprise.

Tap and its partner will undertake an 18-month Environmental and Social Impact Assessment (ESIA) and study period, with an option thereafter to proceed to a three-year exploration work program.

The company expects to spend around $2.75 million up to and including the study period, which has a minimum expenditure requirement of $2 million.

8/27/2015

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