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Production Sharing Contracts was signed with Shell and Mitsui

Myanma Oil and Gas Enterprise (MOGE) have signed explo- ration and production sharing contracts (PSCs) for three deep-water blocks with Shell and its partner Mitsui Oil Exploration Co., Ltd. group (MOECO).
The three deep-water blocks, AD-9, AD-11 (Rakhine Basin) and MD-5 (TAnintaryi Ba- sin), together cover some 21,000 square ki- lometres and are located approximately 300 kilometres offshore in water depths ranging from 1,800 to 2,700 metres.

Union Minister for the Ministry of Energy (MOE) H.E. U Zay Yar Aung said “Explora- tion is a pivotal step in the development of Myanmar’s Energy sector, an industry that plays a key role in the economic growth of the country. We look forward to partnering with Shell and MOECO, who will bring in- ternational standards and expertise to an expanding offshore industry.”

We are pleased to be able to sign the PSCs to operate the three offshore deep-water blocks with the Government of Myanmar and our partner MOECO,” said Graeme Smith, VP Exploration Asia and Australia at Royal Dutch Shell. “The three blocks offer an exciting frontier exploration opportunity to apply the advanced deep-water technical capabilities we have built up around the world over the past three decades. I am de- lighted that we have the opportunity to ex- plore and we look forward to helping meet Myanmar’s aspiration to unlock and devel- op its energy resources.”
Royal Dutch Shell plc is incorporated in En- gland and Wales and shell companies have operations in more than 70 countries and territories with business including oil and gas exploration and production. Shell has a 90% interest in the three contracts with MOECO holding the remaining 10%.