Oil India prepares for Myanmar blocks

Vol 18, PW 10 (15 Jan 15) News in Brief
     

Oil India is preparing to invite bids in February to carry out environmental studies at two offshore shallow water blocks won in the last Myanmar licensing round.

Oil India (60%) and partners Mercator Petroleum (25%), Oilmax Energy (10%) and Myanmar local company Oil Star Management Services (5%) signed PSCs for the 10,380-sq km block M-4 (Moattama Offshore Area) and 21,297-sq km block YEB (Tanintharyi Offshore Area) on December 4, 2014. Oil India has agreed to spend the first six months carrying out environmental impact studies, followed by a year-long geo-scientific evaluation, together estimated to cost $120.9m.

“All the G&G studies will be done in-house,” confirms Oil India. “Only after seeing the results can we say if the blocks are worth keeping.

” If successful, the initial 18-month ‘observation period’ will be followed by a three-year Phase-I work programme commitment of 73-lkm 2D, 320-sq km 3D and two wells at each block.