Woodside Petroleum has signed production sharing contracts for a number of offshore blocks awarded to the company in the 2013 Myanmar Offshore bid round.
The company holds operated equity interests of 55% and 45% in offshore blocks AD-5 and A-7 in the southern Rakhine Basin.
The non-operating interests are held by BG Exploration and Production and Myanmar Petroleum Exploration and Production.
Woodside also holds non-operated interests of 45% in each of offshore blocks AD-2 and A-4 located in the northern Rakhine basin.
BG Exploration & Production is the operator of both these blocks and non-operating interest in block A-4 is also held by Myanmar Petroleum Exploration and Production.
The company now holds interests in six different permits covering a combined area of 46,000 square kilometres.
Woodside Petroleum is now the largest acreage holder in the emerging Rakhine Basin.
Executive vice president of Global Exploration, Phil Loader, said Woodside planned to commence an active program of exploration in the region in 2015 and beyond.
He said:“The Rakhine Basin is an emerging oil and gas province that fits very well with Woodside’s proven capabilities in deepwater exploration and development.”
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