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Eni enters Myanmar with PSC signed to explore two onshore blocks

31st July 2014

The joint venture is between Eni, the operator with a 90 per cent participating interest through Eni Myanmar B.V, and the Myanmar Production and Exploration Company Ltd (10 per cent)

Eni enters Myanmar with PSC signed to explore two onshore blocks
The exploration period will last six years, subdivided in three phases

Eni, following its participation in the competitive International Bid Round launched by the government of Myanmar, signed in Nay Pyi Taw in presence of the country’s energy ministry, two production sharing contracts (PSC) for RSF-5 and PSC-K onshore blocks.

The joint venture is between Eni, the operator with a 90 per cent participating interest through Eni Myanmar B.V, and the Myanmar Production and Exploration Company Ltd (10 per cent).

Blocks RSF-5 covers an area of 1,292 square kilometres in the prolific Salin Basin about 500 kilometres north of Yangon, while block PSC-K covers an area of 6,558 square kilometres in the unexplored Pegu Yoma-Sittaung Basin, in the central part of Myanmar.

The exploration period will last six years, subdivided in three phases.

This agreement marks Eni’s first entry into Myanmar, a rapid expanding economy, and confirms its strategy to reinforce its presence in the South East Asia region, where Eni is already present in China, Vietnam, Indonesia and East Timor.

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