Shell targets deepwater Myanmar

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Shell targets deepwater Myanmar

Post by Admin » Wed Sep 09, 2015 7:42 am

Shell is planning to start 3D seismic acquisition offshore Myanmar following its return to becoming an operator in the country.

The firm has issued a letter of award to Oslo-listed geoscience firm Polarcus for a 3D marine seismic project. The project, for Shell Myanmar Energy, is currently expected to start in Q4 2015.

The move follows Shell, and other major and smaller operators, being given acess to Myanmar's offshore last year and this year, following the 2013 licensing round - one of the first in decades after years of sanction-driven isolation of Myanmar.

On 5 February 2015, Shell and its partner Mitsui Oil Exploration (MOECO) signed three exploration and production sharing contracts (PSCs) with Myanma Oil and Gas Enterprise (MOGE) to operate three offshore deep-water blocks.

The step marked Shell’s return to upstream operations in Myanmar. Under the agreements, Shell has access to deep-water blocks AD-9 and AD-11

(Rakhine Basin) and MD-5 (Thanintharyi Basin), together covering 21,000sq km, about 300km offshore in 1800-2700m water depth.

Shell is the operator and has a 90% interest in the three contracts with MOECO holding the remaining 10%.

Duncan Eley, COO Polarcus, said: "With this award from a returning customer, the Company continues to strengthen an already strong backlog and capture significant market share in a challenging business environment." ... er-myanmar

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