Tap Oil signs PSC for block offshore Myanmar

Tap Oil Ltd. reported its entry into Myanmar following the signing of the production-sharing contract for shallow-water Block M-7 in the Moattama basin offshore Myanmar. Tap holds 95% participating interest in the block and has assumed operatorship.

Tap Energy (M7) Pte. Ltd. and its local joint venture participant Smart E&P International Co. Ltd. signed the PSC with Myanmar Oil & Gas Enterprise (MOGE) on Aug. 26.

Under the PSC, the JV partners have agreed to undertake an 18-month environmental and social impact assessment and study period followed by an option to proceed to a 3-year commitment exploration work program.

Tap anticipates that it will spend $2.75 million on the block up to and including the study period, which has a minimum expenditure requirement of $2 million.

The 13,372-sq km Block M-7 lies 160 km east of the 6.5-tcf Yadana gas field, and 70-km north east of the 1.5-tcf Zawtika gas field.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...